INDIA: A World Bank Report shows why Indians, in order to have a sustained mode of income abroad willingly, leave their country to augment future prospects.
World Bank report reveals shocking data
The World Bank Report shows an increased number of Indians’ pay hike by 120 to a massive 500 percent when they seek jobs outside of India that promise a better living, better education and job. This data suggests that with this outflow of Indians to foreign countries, this hike will augment more in the near future.
An increase of 120 percent in their incomes is seen by workers outside of India in contradiction to 40 percent to the personal incomes within the bounds of India. The World Bank found that practically every working-class Indian immigrant has experienced an increase in their salary.
Therefore, an Indian worker with poor skill levels could expect a 500 percent rise in salary in the US. Notably, nations like the United Arab Emirates are the second-favoured destination after the US for low-skilled staff members from India because there they can make 300 percent more than in India.
The report says, “The advantages are so significant that at current rates of economic growth, it would take decades for the ordinary low-skilled worker in some countries of origin to earn what they do by migrating to a high-income country.”
The tech sectors are blooming with more prospects for international applicants. Indians are positioning themselves in top positions in the Silicon Valley of the United States. Some of the companies like Google, Youtube, Microsoft and Adobe are being taken over by Indians.
As per the World Bank report, “Indian migrants in California’s Silicon Valley have launched large Information Technology related firms in India. Returnee-founded enterprises accounted for over 90% of firms in Bangalore’s software technology parks in 2006.”
“Remittances provide a consistent source of income for migrant families, allowing them to invest in their children’s education, health care, housing, and entrepreneurial activity,” it adds.
India has prominently profited greatly from the brain drain in terms of transfer payments as well. As per the report, India is the country that acquires the most remittances internationally, with remittances nearing $100 billion last year.
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