India 3rd most popular for sourcing talent - DNA
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India is the third most popular country for sourcing foreign talent after China and the US, a survey by global recruiting firm Manpower Inc released said. The Borderless Workforce Survey conducted in 27 countries also showed India received the highest remittances ($27 billion) from nationals working abroad.
It is closely followed by China ($25.7 billion), Mexico ($25 billion) and the Philippines ($17 billion). "The demand for Indian skilled labour is the highest in the US followed by the Gulf. In recent years, there has been a growing demand for engineers in the oil and gas sector and aviation," said Manpower India managing director Naresh Malhan. Others in demand are nurses, drivers and construction workers, he said.
The survey also ranked India third in the list of the top 10 countries considered an economic threat to other nations. Of the 26 countries surveyed other than India, all countries with the exception of Costa Rica and Peru believe that India provides competitive threat to their own country's ability to compete economically.
So far as Indian employers are concerned, they consider China, the US and the UK as the biggest competitive threats. According to the survey, Chinese employers - followed by those in India - were the least concerned about migration of talents to foreign countries.
In India, employers in public administration, education, services, finance, insurance, real estate and manufacturing are most concerned about this, while those in wholesale and retail, transport, utilities, mining, oil and gas sectors are the least bothered. "While it's true that we need to do more to keep our most talented workers, we must also consider how we can strengthen our collective employer 'brand' to attract talented workers from overseas," said Malhan.
Some of the key findings of the survey:
- India is the third most popular country for sourcing foreign talent; 11 of the 26 countries surveyed other than India sourced foreign
talent from India.
- India receives the highest remittances ($27 billion) from nationals working abroad, followed by China ($25.7 billion), Mexico ($25 billion) and the Philippines ($17 billion).
- India has the highest percentage of nationals working abroad with tertiary education. Of the nearly 2.2 millions of Indians working abroad, 53 percent have acquired tertiary education.
- India ranks third in the list of Top 10 countries believed to be an economic threat to other nations.
- Indian employers are second least concerned about government and businesses not doing enough to slow the outward migration of talent.
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| Global economic upheaval not to have big impact on India: CII |
K V Kamath,Confederation of Indian Industry's President |
The turmoil in the world economic Markets is unlikely to have a major effect on India's Economy, which is currently at 9 per cent level, Confederation of Indian Industry's President K V Kamath has asserted.
In his keynote address to a conference on investment in India, organized by CII in collaboration with the Asia Society in New York Tuesday, he said the credit turmoil that has affected the world Markets has not slowed enthusiasm in the American investments in India or vice-versa.
Allaying the fears of a slowdown in the Indian Economy, Kamath said India has been witnessing high growth rate only for a few years and all evidence point to the country continuing on that path for several more years.At the meeting, former USIBC Chairman Charles "Chip" Kaye said keeping in view the economic downturn and projections that India may not mobilize the expected foreign direct investment in infrastructure where it is needed most, USIBC's role in the coming year must be to make investors aware of opportunities in India for investment in its soft and hard infrastructure.
"To that end, we are planning a 'Green India' Summit on October 15 in Washington with CII to showcase the numerous opportunities for investment in India, matching these with America's best environmental technologies," Kaye, who is also the Co-President of Warburg Pincus, the largest US private equity investor in India, added.
Source: The Financial Express |
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India asks Commonwealth nations to jointly fight terrorism
Pitching for "zero tolerance" for terrorism, India exhorted Commonwealth countries to work together to fight trans-national crime and terrorism. "India calls for a policy of zero tolerance for terrorism by the international community. Any act of terrori is a threat to the entire international community and deserves to be unequivocally condemned," K Rani, MP, said addressing the 20th Commonwealth Parliamentary Seminar.
Speaker of House of Common Peter Milliken, Speaker of Senate Noel A Kinsella, members of parliament and ministers from member countries are attending the weeklong conference organised by Commonwealth Parliamentary Association (CPA). Rani, an MP from Tamil Nadu, called upon the Commonwealth fraternity to stand together and fight "elements inimical to democracy" and the scourge of terrorism, which was not only a threat to democracy but to development as well. India called for formulation of common strategies to achieve holistic development and welfare of people.
Source: The Times of India |
Exports up by 31.5% in April 2008 India’s foreign trade data: April, 2008
India’s exports during April, 2008 were valued at US $ 14400 million (Rs.57633 crore) which was 31.5 per cent higher in dollar terms (24.8 per cent in Rupee terms) than the level of US $ 10953 million (Rs.46164 crore) during April, 2007.
India’s imports during April, 2008 were valued at US $ 24274 million (Rs.97151 crore) representing an increase of 36.6 per cent in dollar terms (29.7 per cent in Rupee terms) over the level of imports valued at US $ 17769 million (Rs.74895 crore) in April, 2007.
Oil imports during April, 2008 were valued at US $ 8029 million which was 46.2 per cent higher than oil imports valued at US $ 5493 million in the corresponding period last year.
Non-oil imports during April, 2008 were estimated at US $ 16245 million which was 32.3 per cent higher than non-oil imports of US $ 12276 million in April, 2007.
The trade deficit for April, 2008 was estimated at US $ 9874 million which was higher than the deficit at US $ 6817million during April, 2007.
Tables showing India’s exports, imports and trade balance, according to the Directorate General of Commercial Intelligence & Statistics (DGCI&S), is attached. |
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