2023-04-29 11:26:00
Berlin – The World Development Report says that there has been a huge increase in the income of Indians working abroad. The report released on Tuesday showed a 120% increase. According to the report, the income of immigrants to the US increased by almost 500% and in the UAE by 300%. Low-skilled workers also have significant increases in earnings, depending on factors such as age, language ability, and skills. Skilled individuals can experience significant wage increases through immigration.
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It also takes longer for low-skilled workers to earn similar earnings in their home countries, the report said. But the report also acknowledges the costs of immigration. For example, Indian workers going to Qatar spend two months’ income on migration expenses. It is more expensive for Bangladeshi workers migrating to Kuwait. Estimated income for about nine months.
There are currently 184 million migrants globally. This equates to 2.3% of the population. Including 37 million refugees. The report classifies immigrants into four groups. High-skilled economic migrants (such as Indian IT professionals in the US or construction workers in the GCC countries), in-demand skilled refugees (such as Syrian entrepreneurial refugees in Turkey), distressed migrants (such as low-skilled migrants on America’s southern border), and refugees (such as the Rohingya in Bangladesh).
The World Development Report 2023 found India US, India GCC and Bangladesh India as the top migration corridors worldwide, along with Mexico US, China US, Philippines US and Kazakhstan Russia.
The report shows how remittances have increased in some countries with significant migrant populations, including India, Mexico, China and the Philippines. Indian migrant workers in the UAE send 70% of their earnings to their families, with women often sending more money. The report also points out that migration of Indian workers from some regions has led to internal migration.
The migration of talented Indians to developed countries has often been described by the media as a brain drain. However, according to a World Bank report, this phenomenon is playing an important role in India’s IT revolution. The report suggests that many Indian techies have not only thrived in Silicon Valley but also become an integral part of the world’s largest Indian diaspora. Figures like Sundar Pichte, Satya Nadella and Arvind Krishna are prime examples of Indian immigrants who have achieved great success in the US.
The report points out that Indian immigrants from California’s Silicon Valley have started IT firms in India. In 2006, about 90% of firms in software technology parks in Bengaluru were founded by returnees.
English Summary : indians who work in abroad have gain in income.
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