NRIs in home run as economy surges

MUMBAI: The trend of Indians returning from abroad to work here has picked up pace with the recovery in the country's economy. Counter intuitively this is even as the monetary benefit that these executives could expect to earn has reduced over the last few years. The gap in premium between what the managers would have expected, say, three years back and now has nearly halved, say hiring experts. However, the reasons for the homing pigeons coming back to their lofts are quite similar — family matters and better job prospects. Despite halving premiums, the trend is no longer restricted to largely IT as was seen earlier. Recruitment experts say it's a more broad-based trend now encompassing sectors like banking and finance, pharma, auto, textiles and food processing. "With the recovery of the Indian economy and increase in the number of Indian companies looking to expand globally, there is a definite rise in the number of Indian repatriates," said Moorthy K Uppaluri, CEO, Randstad India, a leading recruitment and staffing firm. The search for top talent coupled with high inflation in India has helped to reduce the difference in compensation between India and the western countries. "About a decade ago, the difference in the junior and middle levels was as much as 75%, and at the top management level it was about 50% to 60%. Today, the difference at the junior and middle levels is about 50%, and at the top it's just about 30% to 40%," said Uppaluri.   TOI