Brain drain is related to migration of Indians to foreign countries in search of better opportunities. It is well known that consequences of brain drain are severe, especially for a developing economy like India. A higher number of Indian students, professionals, doctors are working abroad now than ever before. On the other hand the money they are sending back to our country is declining.

REASONS OF BRAIN DRAIN

There has been a steady rise in the number of people migrating to the US. There has been 225% increase in the number of people migrating to the US for education, work or as permanent residents. But the remittance received by India is constantly declining in terms of money being sent to our country.

A major reason why India’s young skilled labour force leaves is in the search of better reward for the efforts and talent. The wages in US is more than 6 times of Indian counterpart in academics, more than 3 times in management and more than double in IT sector.

Wages are not the single reason to migrate. Quality of higher education is one of the biggest factors which pushes brain drain. India lags behind in the terms of quality education.

There are not enough jobs here and that’s why people migrate to abroad. If the talented youngsters decide to stay back, our system does not have the capacity to absorb them. Our job market has not expanded enough to accommodate the high skilled job seekers and reward them with global competitive Salaries. The pace of job creation itself has slowed down in India.

START UPS WILL HELP IN JOB CREATION

To overcome the problem of migration of Indian people, we need to create entrepreneurs. It can be reliably assumed that start ups will help the Indian Government in driving job creation in coming years. High level research and innovation happens in start up business which directly aims to address a problem with the economy.

IS BRAIN DRAIN REAL NUISANCE OR NOT?

Brain drain has the overwhelming consequences for the home country’s economy. Some countries found this condition as an opportunity to invest. According to them they can increase their competitiveness in global market and strengthen their exports and create new job. Developed countries are putting their efforts into creating programs for their employees which allow them to develop their marketers.

BENEFITS

• It will create links in global services of knowledge, capital and goods.

• A better social and educative level.

• A better foreign market and new business ideas.

CONSEQUENCES

With the effect of brain drain economy loses its valuable persons because they move towards the developed economy. There are two factors which cause brain drain

1. Push Factors

2. Pull factors

 PUSH Factors are those which push the Indians to migrate such as low salary packages, unstable political environment and limited growth.

 PULL factors are those factors of developed economy which attract the people like prestige, higher income level and independence.

  The brain drain is essential up to a certain level but the maximum extent can cause a serious issue. Brain drain can be removed by creating better opportunities in Indian economy. So that no one can migrate to other country for earning better livelihood.