We all have heard of brain drain. It is the phenomenon of meritorious students from third world countries like India migrating to developed countries especially like United States. Of course this helps propel India in global stage in terms of its contribution in running world class corporate like Microsoft or Pepsi and several other organizations with some Indians sitting at the top of these companies. This clan of immigrants also feeds Indian coffer with their remittance in foreign exchange. Though, time and again there are many so-called nationalists are found bemoaning, shedding crocodile’s tears, for the brain drain. That is had they been here, they could contribute for the advancement of their own country. None better than them know it is next to impossible, since nothing thrives better than corupptons, casts and reservations here.
But there is change in wind direction. Since 2003, between 50000 to 60000 Indian information technology professionals have returned to India for better prospect. Mostly to the suburbs of Delhi, Hyderabad and Bangalore; it may be called “brain gain”.
Bangalore, a home for 2.32 million people boast to host the returnees with best pay package, as per the industry sources. Those who have returned to India from abroad, claims they get the best pay package here. And that is sufficient to lead far better and comfortable life here than elsewhere in foreign land.
Bangalore hosts 1000 information technology firms and more than 10000 US-dollar millionaires. Though India’s technology and out sourcing business booms and expects to touch $52 billion during 2007-2008 fiscal, the wage inflation in Bangalore is around 50% a year. It is comparable next to California in the context of highly sophisticated tech works.
So, here too, outsource is the answer. And that is being done. The business is outsourced from less costly countries like Vietnam or China. Where; wage is still lesser than here. Still better, some of the Indian cities like Calcutta, Chennai and Hyderabad have joined the row, since they are 30% cheaper than Bangalore. So the future of Bangalore is uncertain.