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Survey shows that Indian companies willing to source talent from foreign countries

February 6, 2007

A 2007 Global Survey of Business Executives by McKinsey has shown that China and India have a lot of jobs and they are willing to hire people from anywhere in the world! Specifically, the survey showed that almost half of the Indian companies surveyed were willing to higher staff from outside the country:

Respondents from India are also much likelier than they were three months ago—42 percent compared with 30 percent—to say that their new jobs will be in a different country from the corporate headquarters. This pattern may mirror the growing global footprint of many Indian companies…

The confidence that Indian executives have in their own economy remains unshaken from 2005 (a previous survey by Mckinsey). Back then the survey showed that Indian execs were very ‘upbeat about the effects of globalization on their businesses’ (more so than executives from other countries) and this confidence has remain unchanged in 2007. In fact, when it comes to hiring people for business expansion, the 2005 survey showed that the execs were not very confident of finding suitable talent…so the findings of the 2007 survey are not at all surprising:

Executives in developed countries of Asia are much more likely to say their company is planning to hire than they were only three months ago. And in India, executives seem to be looking to offshore some of their own operations, after years of benefiting from Western companies doing the same.

When asked ‘How do you see the size of your workforce change in the next six months,’ 81% of Indian executives in India believed that were going to be a lot of new jobs. The highest amongst all countries. Here are the figures for other major markets:

China: 57%
Europe: 48%
North America: 45%

And where do the execs think these new people will go? Well, most Indian and Chinese executives believe that expansion of existing businesses will create the new jobs.

Shortage of seats in good quality higher educational institutes in India
It has been known for some time now inspite of the increase in the number of higher educational institutes in India, they have not met the demand for seats. Millions of talented youngsters cannot get admission into institutes of their choice.
In order to improve this situation, the government is planning to allow 50% FDI (Foreign Direct Investment) in higher educational institutions. This could well be one of the answers to the shortage of seats…

Related Reading: India to be in the top three economic power by 2050
Legislation against globalisation does not help anybody
Real Estate in India is booming
Lots of jobs in India
India is poised for great economic growth
Highest salary hikes to be in India in 2007

3 Comments leave one →
  1. February 6, 2007 9:47 pm

    FDI in Higher Education.Well there is a real need for it specially in Research & technical fields.
    As far as Indian companies being ready to source talent from anywhere in the world .I donn’t know how top react.Their are so many educated unemployed youths around.But as Narayan Murthy sayz number of Employable educated people are not that high!Strange situation!!!!

  2. February 6, 2007 9:48 pm

    By The way Got a BLOG at WordPress.Its Called ThoughtShop.Gv it a click🙂

  3. Sahil permalink
    December 23, 2007 2:30 pm

    More code monkeys not engineers is what they mean, is it? I just hate it when these IT co.s take in bright and talented engineers and make them do sub–standard work- sheer waste of all the money that the nation spends in making engineers out of them. So those who don’t succeed in technical field, migrate abroad to pursue opportunities. And our country now celebrates brain drain -40% of doctors in the US are now Indians – as if it’s something to be proud of with perennial shortage of doctors in our own country – most middle-class Indians look to private institutions for their medical care today (even though they can be unaffordable). A simple pathology test in a private hospital can set you back by Rs.300 whereas it’s free in a civil hospital – but considering the present conditions there (lack of doctors/frequent medical staff strikes etc.), noone’s interested in going to a civil hospital.

    But there is a silver lining -there are many talented engineers who have refused to sell their expertise to these multinationals – instead they have started their own innovation efforts – Tulsi Tanti of Suzlon being one example- from an idea born in his college days, he has transformed Suzlon into a $1 billion wind transformer company. Hats off – we need more engineers like these.

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