Global Rice News

According to the Ministry of Finance, India experienced a remarkable 26% increase in inward foreign remittances during the last financial year (2022-2023), reaching a record-breaking USD 112.5 billion. This surge in remittance highlights the growing significance of Indian manpower exports in the global economy and showcases India’s potential as a driving force for both its own and the world’s economic growth.

India’s population, especially the younger generation, boasts a substantial pool of skilled and unskilled workers whose expertise and services are in high demand worldwide. The achievements of the Indian Diaspora across various sectors such as corporate, business, politics, arts, and sports exemplify the talent and potential of Indians. Notably, over 200 individuals of Indian origin currently hold political leadership positions in more than 15 countries, with over 60 of them at the cabinet rank. This recognition further demonstrates the value that Indian workers bring to employers globally.

The shortage of quality workers in numerous sectors, including nursing, electrical work, plumbing, and agriculture, is a prevalent challenge faced by both developed and developing economies. Factors such as an aging population, low birth rates, and a shift away from manual labor have contributed to this shortage. However, India’s large and growing population of skilled workers presents an opportunity to address these gaps.

The historical migration patterns of the Indian diaspora have been shaped by informal channels. For instance, a significant number of individuals from Punjab and Gujarat migrated to East Africa in the early 20th century to work on railroads and plantations. Similarly, individuals from Tamil Nadu migrated to Sri Lanka and Malaysia in the 19th century to participate in tea and rubber plantations. While these informal channels have enabled migration, they can also present risks and exploitation.

To capitalize on the potential offered by Indian workers overseas, it is essential to address various challenges. One such challenge is ensuring that all workers, regardless of their skill level, have access to opportunities to work abroad. While white-collar workers benefit from formal channels for overseas employment, blue-collar workers and entry-level workers often rely on paid agents to navigate the complex process of working abroad. The Ministry of Labour and Ministry of External Affairs could establish a Digital Public Infrastructure (DPI) to facilitate work seekers’ overseas aspirations. This platform could streamline the visa and passport application process, provide information on government-to-government work opportunities and working conditions abroad, and offer skill mapping and language proficiency support through the National Skill Development Corporation (NSDC).

Creating more inclusive and formalized avenues for accessing information about overseas work opportunities, particularly for blue-collar and entry-level workers, is crucial. The post-COVID work-from-home trend has blurred geographical boundaries, allowing Indian workers to explore overseas job opportunities from within India. Moreover, emerging work opportunities for digital nomads offer the flexibility to work remotely from anywhere in the world.

With its young and skilled workforce, as well as support from the government, industry, academia, and the skilling ecosystem, India is well-positioned to leverage its demographic dividend and become a major exporter of manpower worldwide. The highly respected Indian diaspora is eager to contribute to India’s economic growth. By implementing the right policies and initiatives, India can aim to surpass USD 200 billion in foreign remittances within the next few years. This will not only boost the Indian economy but also fuel global economic growth. Collaboration between the government and emerging startups in this field will facilitate the creation of more work opportunities for India’s emerging workforce on a global scale.

Source: [Financial Express](https://www.financialexpress.com)