Global Talent Shortage- Opportunity For India

Context: A recent FICCI-KPMG study, ‘Global Mobility of Indian Workforce’, has estimated that by 2030, the demand for skilled workers will exceed supply, leading to a talent shortage of over 85.2 million people.

India’s Advantages and Opportunities

• Favorable Global Perception: Indian workers do not face significant hostility in most international markets.
  • Skilled Indian professionals continue to find opportunities despite anti-immigration sentiments.
• Large and Young Workforce: India has a demographic advantage with a large pool of skilled professionals.
  • Ability to supply talent to ageing economies in Europe, GCC, and Australia.
• Diverse Skill Base: Strong presence in IT, healthcare, engineering, and emerging sectors like AI and automation.
  • Expanding skillsets in renewable energy, sustainability, and digital economy.
• Strategic Geographies for Workforce Mobility: The Gulf Cooperation Council (GCC), Europe (including the United Kingdom) and Australia have a high demand for skilled professionals.
  • Healthcare, services, construction, and manufacturing remain high-demand sectors.
• Potential to Boost Economic Growth: Indian workforce participation in global markets can help India reach the $9-trillion GDP target by 2030.
  • Tapping into the $8.45 trillion unrealized global economic potential.
• Government’s Focus on Legal Migration: Efforts to curb illegal migration enhance India’s reputation as a reliable talent supplier.
  • Ensures better working conditions and legal protections for Indian migrants.

Barriers to the Efficient Movement of Skilled Workers Across Borders

• Regulatory and Immigration Barriers: Complex visa processes and stringent work permit regulations hinder skilled migration.
  • Some countries have protectionist policies limiting the entry of foreign workers.
• Recruitment Malpractices and Trafficking: Exploitative recruitment practices and fraudulent agents take advantage of workers.
  • Human trafficking remains a serious concern for migrant workers’ safety and rights.
• Policy Barriers and Skill Mismatches: Indian degrees, especially in medicine, are not universally recognized, leading to underemployment.
  • Some international job markets require additional certifications or licensing.
• Language and Cultural Barriers: Lack of proficiency in the host country’s language affects job opportunities.
  • Cultural differences make integration challenging, reducing workforce efficiency.

Indian Government Initiatives

• Bilateral Agreements and Free Trade Agreements (FTAs): Agreements with GCC nations and other countries to protect Indian workers’ rights.
  • The Joint India-UAE Vision emphasizes skill cooperation between the two nations.
• Skill Development Programmes: Training initiatives to align Indian workforce skills with global market needs.
  • Focus on sectors like automation, AI, big data, and healthcare.
• Digital Platforms for Workforce Support: Online recruitment systems ensure legal protections for workers.
  • Helps prevent fraud, especially in GCC countries.
• Recognition of Qualifications: Ongoing efforts for mutual recognition of Indian academic and professional degrees abroad.
• Regulation of Recruitment Practices: Stricter oversight on recruitment agencies to prevent exploitation and trafficking.
• Promoting Circular Migration and Mobility: Temporary work visas and rotational workforce models to address labour shortages.

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