With declining wages abroad, an increasing number of non-resident Indian IT professionals are moving back to their home country, says a survey.
IT and IT-enabled firms in India hired 28 percent more non-resident Indian (NRI) professionals in the first quarter of 2011-12, according to the survey conduced by recruitment consulting firm MyHiringClub.com.
Among 11 surveyed industries, IT and IT-enabled services registered highest growth, with 28 percent increase year-on-year in the first quarter of the current fiscal. It is followed by pharma and healthcare, up by 20 percent, automobile and manufacturing, up by 18 percent, telecom, up by 14 percent, banking and financial services, up by 10 percent and FMCG, up by six percent.
"The high economic growth in India with many good opportunities has fuelled the NRI thought process to head back. In addition to that, many US companies are opening their offices in India and hiring more to target the growing market in Asia," Rajesh Kumar, CEO of MyHiringClub.com, said in the survey report.
He said an increasing number of high value NRI professional recruitment is likely to take place in the coming years as wage gaps have declined sharply.
"Increasing number of people are now returning because now the advantages of returning back to India outweigh the disadvantages by far," said Kumar.
The highest number of NRIs who returned home found jobs in Bangalore, followed by Mumbai, Delhi and Hyderabad.
The NRI professional hiring trend survey was conducted online between July 1-15. Senior human resource professionals and top management of 237 firms and 690 recruitment consultants participated in the survey.
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