The whole world is suffering from the financial tsunami. Big names/corporates were first to fall and the induction effect still continuing. Despite several measures by the state govts world wide, there is no sign for a quick removal.Demands falter as people are skeptical of the future and the less spending on items with job losses world wide triggers a severe meltdown. Slowly and steadily, the effect is everywhere.
With the ILO predicting as many as 50 million jobs will be lost in the developing world and the world bank projecting zero growth in per capita income in Africa, the livelihoods of as many as four billion people are at stake.Already there have been dramatic withdrawals of capital from emerging markets and a drying up of credit including trade finances.Remittances are declining as immigrants returning home.
What it implies for India? Indian techies are loosing their jobs worldwide, more vulnerable are those who are working with MNCs and residing overseas.U.S. President Barack Obama recently signed into law a $787-billion US stimulus package to help lift the country's economy out of recession but with a word of cautious.It will directly impact to H1B visa holders as the companies receiving this fund will refrain from hiring outside workers.
Don't you think this is the clear sign of protectionism. Remember this is the same USA propagating the free trade concept and advocating open market, even labour reforms in WTO. What is happening right now? It is forced to take such measures so as to protect its own job.
People in MNCs are forced to quit company as projects dried up.Once the lucrative market is now shivering under tremendous pressure.Bad news are breaking news today as there is some kind of news of job loss or people coming from overseas after loosing jobs.This is bad bad news for India.
But then the time has come to reinvent ourselves , to think and to develop a future vision. India is growing, no doubt today we are the second largest economy and less affected by this financial crisis.There is anoromous scope to grow here in India.
It is time NRIs give this a first thought and should come back home without any further delay.India needs best brains. We have all the resources with us and also the will power to grow.
Though we are hit hard by the financial crisis but this is the right time to wake up and take the country to the top. we do not need external help for this. We have the inherent strength within us to reach the zenith.We have the technology,experts, raw materials, education etc.
In my opinion, this is the right time to come back home and to serve our own country. It is better to live in a dignified way rather to be kicked away from a foreign country. Though I know, India do not have the luxury as the western countries do but this is not in our culture to find faults in our mothers.
We have to stand by our own and not by any outsiders help.
Wake up Indians..come back home.
With the ILO predicting as many as 50 million jobs will be lost in the developing world and the world bank projecting zero growth in per capita income in Africa, the livelihoods of as many as four billion people are at stake.Already there have been dramatic withdrawals of capital from emerging markets and a drying up of credit including trade finances.Remittances are declining as immigrants returning home.
What it implies for India? Indian techies are loosing their jobs worldwide, more vulnerable are those who are working with MNCs and residing overseas.U.S. President Barack Obama recently signed into law a $787-billion US stimulus package to help lift the country's economy out of recession but with a word of cautious.It will directly impact to H1B visa holders as the companies receiving this fund will refrain from hiring outside workers.
Don't you think this is the clear sign of protectionism. Remember this is the same USA propagating the free trade concept and advocating open market, even labour reforms in WTO. What is happening right now? It is forced to take such measures so as to protect its own job.
People in MNCs are forced to quit company as projects dried up.Once the lucrative market is now shivering under tremendous pressure.Bad news are breaking news today as there is some kind of news of job loss or people coming from overseas after loosing jobs.This is bad bad news for India.
But then the time has come to reinvent ourselves , to think and to develop a future vision. India is growing, no doubt today we are the second largest economy and less affected by this financial crisis.There is anoromous scope to grow here in India.
It is time NRIs give this a first thought and should come back home without any further delay.India needs best brains. We have all the resources with us and also the will power to grow.
Though we are hit hard by the financial crisis but this is the right time to wake up and take the country to the top. we do not need external help for this. We have the inherent strength within us to reach the zenith.We have the technology,experts, raw materials, education etc.
In my opinion, this is the right time to come back home and to serve our own country. It is better to live in a dignified way rather to be kicked away from a foreign country. Though I know, India do not have the luxury as the western countries do but this is not in our culture to find faults in our mothers.
We have to stand by our own and not by any outsiders help.
Wake up Indians..come back home.
Posts
good one Mr RK....
ReplyDeleteReverse brain drain already started..people coming back home with their expertise..
ReplyDelete