The Indian economy is one of the fastest growing economies of the world, and has managed to sustain moderate growth even through the global economic crisis of the recent years. This spurt of growth has caught the attention of many multinational companies who are looking to, or have already, set up their presence in India. As a result, India has become one of the favored destinations for expats to visit for professional reasons.
If you are traveling to India on a work related assignment in the near future, read on to know more about the country and the situation to get more familiar with India even before you land. Here are a few statistics about India:
- India is the second-most populous country in the world, after China. Total population: 1.21 billion
- About 25 percent of the world’s youth reside in India
- India has sustained an annual growth of about 6 percent over the last decade
- Over 2011-12, the Indian economy managed to grow at a rate of 6.5 percent
- India produces 500,000 engineers every year
For a successful experience in India: Ensure that you provide adequate support to your family, especially as you prepare to leave and even during the initial few months after arriving in India.
The change can be significant, so always be available to help your family through it. Once you and your family gets used to life in India, you will find your time here to be quite comfortable.
For returning Indians: Many Indians have moved overseas for further education and better employment opportunities. However, with the economic slowdown in the west, there is a significant percentage of such Indians looking to return to their country in search of better prospects.
India has undergone tremendous change over the past few years and can prove to be difficult to adjust even for such returning Indians. They may also have higher expectations and could experience greater challenges during their return.
For expats: The situation for an expat is considerably different from that for the returning Indian. India would be an entirely new experience and expats could feel quite apprehensive and worried when moving to India.
However, if you tackle each issue step by step and you will be able to settle into the Indian environment faster and more comfortably. Do take professional assistance so that you don’t feel overwhelmed with the move.
Educational opportunities: There are plenty of good schools all across India. However, if your child has been studying in a school that has international curriculum, he/she will need to continue the education in an international school. Ensure that you clearly communicate all your concerns before the move with your HR manager and receive clear guidance about expenses, lifestyle arrangements, etc.
Most good schools in India have a long waiting list, so you must start hunting for the right school well in advance.
Living arrangements: Housing rents are ever on the rise, especially in Tier-I cities. Hire the services of a professional real estate broker to help you with your house hunting. Such real estate brokers can also keep you updated about the existing policies like lease requirements, available options, etc. and can help you through the formalities as well.
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