Business Daily from THE HINDU group of publications
Tuesday, Aug 29, 2006
Business Daily from THE HINDU group of publications Tuesday, Aug 29, 2006 |
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Info-Tech - Human Resources Rise in IT professionals returning from US Archana Venkat
Opting for home Opportunities in India are good if not better than the US. Today technology is moving here at the same pace as it moved into the Silicon Valley some years ago. Post-taxation salaries in India are comparable to that abroad considering the purchasing parity.
Chennai , Aug. 28 "I won't work in the US for long." It is now common to hear a youngster say this. The "Destination US" era seems to be coming to an end for Indian IT professionals. The number of IT professionals returning from abroad (mainly the US) seems to be increasing. "Trade estimates say that about 10,000 people return to India every year. Compared to last year, this number may have gone up by 20 per cent this year," said Mr T.V. Mohandas Pai, Director-Human Resources, Education, Research and Administration, Infosys Technologies. Most of them hold H1-B visas and green cards, having lived abroad for three to ten years. Mr Sunil Mehta, Vice-President of Nasscom, says about 30,000 Indians have come back between 2001 and 2006. Media reports say Nasscom in 2003 estimated that about 70 per cent of IT professionals returning were those who had gone to the US on H1-B visas. About 15 per cent comprised Indians who had lived in the US for over ten years.
Good opportunities
The return signals greater opportunity in IT and ITES in India. "Opportunities in India are good if not better than the US. Today technology is moving into India at the same pace as it moved into the Silicon Valley some years ago," said Mr Mehta. The boom in off-shoring business ensures that India is the first destination for most companies wanting to set up an offshore unit. But are IT professionals ready to give up the hefty salaries they earned abroad to settle in India? It seems so. "Post-taxation salaries in India are comparable to that abroad considering the purchasing parity," says Mr Pai.
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