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Saturday, April 19, 2008

Is not India shining

IITians no longer prefer U.S. as job destination, says study Sandeep Joshi
Instead they prefer India due to booming employment prospects
NEW DELHI: India, with its booming economy and opportunities galore, is now becoming a preferred job destination among graduates from the prestigious Indian Institute of Technology (IITs), who now no longer prefer to go to the U.S. or other developed countries searching for jobs or higher studies.
“It is well known that graduates from IIT, popularly known as IITians, have historically preferred to move to the U.S. or other countries to pursue higher studies and explore more attractive career opportunities. However, preferences have changed during the last few years,” says a recent study conducted by a leading global research and analytics’ firm, Evalueserve.
Prepared after a survey of 677 IITians, the study points out that among IITians, who graduated between 1964 and 2001, 35 per cent moved to countries other than India, while 65 per cent preferred to stay back. However, among IITians who graduated in 2002 and later, only 16 per cent went abroad, while 84 per cent remained in India. “Recent graduates also believe India will be the most promising geography for IIT graduates in 10 years,” it says.
According to the study, among IITians, who graduated during 1964 and 2001, 60 per cent believed that when they were graduating, the U.S. and other developed countries provided better opportunities, while the remaining said it was India which provided job prospects. However, among those who passed out of the IITs between 2002 and 2008, this number dropped to 51 per cent who believed that developed countries would provide them better opportunities.
Interestingly, the point of “inflexion” arrives with the graduating class of 2002, where these changing trends became more pronounced. This correlates with the growth of India’s economy, the study points out. It also notes that better academic opportunity was the primary reason among IITians for choosing the U.S. over India.
However, there were other reasons too that resulted in IITians not going to the U.S. — stringent visa norms after the 9/11 terrorist incident, high cost of living, limited scholarships, high tuition fees, and the perception of reduced employment opportunities and a poorer life in the U.S.—, the study says.
While the reasons behind IITians preferring to stay back included their desire to be closer to their homes, culture, and family; limited number of “significantly attractive” job offers overseas; and substantial increase in job opportunities and improved standard of living in India; and significant entrepreneurial opportunities in India.
Interestingly, when asked “10 years down the line, which geography do you think will hold the most promise for success?”, 72 per cent IITians chose India, with only 17 per cent opting for the US, 5 per cent for Europe and 2 per cent for China, the study adds.
The Evalueserve study also points out that IITians are also expanding their career choices beyond the traditional engineering and technology opportunities.
“There has been a noticeable shift towards consulting and financial services as well as continued interest in entrepreneurial aspirations. This shift is related to the buoyant Indian economy, a surging Indian stock market, and the increased earnings potential in these areas,” it adds.
Hindu dated 19th April 2008

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