Indian economy is growing rapidly, but youth is still lured by jobs in foreign lands

India is shining, and the world is taking a notice of that. Global companies are setting up their bases in India, and the economy is growing like never before. However, when it comes to working overseas, a substantially higher number of Indian employees will not think twice before saying yes, even if it means leaving the country that the world is attracted to.

This ‘urge’ to go overseas for jobs has rapidly grown over the last five years, no matter the slowdown in global economy, and the rapid pace of India’s economy.

A Randstad survey reveals that 85% of the respondents surveyed said that they are keen on working abroad, and a shocking 88% of these numbers are women. A 2011 survey on the same topic stated the number of respondents willing to go overseas for job to be 74%.

Bhaskar Chakravorti, senior associate dean, The Fletcher School, Tufts University has something to say for this ‘foreign fascination’.

"Even economies such as India that are experiencing a rare burst of growth do not hold a promise that this growth is going to last and lead to exciting new jobs. The alternative is to look elsewhere beyond one's home market with the hope that somehow the grass is going to be greener on the other side," Chakravorti told ET.

Second, the pace at which business is becoming global, there are some dynamic opportunities that exist in new markets outside India. "Naturally, it creates a desire to visit and work in these places," said Chakravorti.

"Earlier, going abroad for higher earnings and better lifestyle was desired because India offered few opportunities. Although India is a different place now, the old perception continues by and large, and perceptions take time to change. It is noteworthy that not everyone wants to go abroad for more income. Better lifestyle, equal opportunity for all, and lower crime are other reasons. And these remain issues of concern in India," said Siddharth Shekhar Singh, associate professor of marketing at Indian School of Business.

Moreover, it’s the impact that work experience abroad has, leading to better career opportunities, which adds to Indians’ wish to earn this experience, even if they don’t plan to permanently settle down abroad.

Some of the key sectors that continue to lure Indian talent to overseas jobs are IT, accounting and financial services, consulting, healthcare and oil & gas.

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