Right time to return to India?
India is now booming in all areas. Bombay Stock Market is soaring with its index over 20000 mark, Technology is outsourcing to India big way, all investments are getting doubled in less than 3years no matter where you invest, cheap college-education compared to US, inexpensive medical treatments all these matter us in deciding to move back. Many of the people settled in US are thinking if they can move back to India.
A couple of decades ago, Indian émigrés poured into Silicon Valley and played a significant role in shaping it. Vinod Khosla co-founded Sun Microsystems and invested in dozens of other start-ups. Gururaj Deshpande launched Sycamore Networks. Suhas Patil started Cirrus Logic. The list is long. California estimates that the state is home to 3,000 companies owned by Indian entrepreneurs. Similarly there are a lot of doctors who moved to US in the early 80s and 90s. An estimate says there are more than 40,000 medical practices in the United States, making up one NRI of every 20 U.S. doctors.
Now the trend started reverse. There is a large number of NRI enterprenuers see burgeoning tech newbies such as Infosys and Wipro Technologies — both tech services companies in Bangalore — and think they can do better. They want to jump into the nation's booming, crazy, thrilling tech industry and take advantage of their knowledge of both India and the USA. Some hope to get rich. Others want to help their homeland. Most want to do both.
Dr. Prabhakar Reddy is an emergency room doctor in Bangalore, who gave up his medical practices in Lousiana and returned home. Dr.Kaushik from Harvard Medical plans to return to India, with the goal of building a more equitable health system in India. "I see India changing all the time," he says. "It's just a very exciting time to be an Indian."
Many companies have started their offshore units in India, and trying to relocate some of the cream to India. Motorola has started a 'Return to India' program, to encourage its employees who were exposed to global arena, to work in its Hyderabad development center. Several small companies have also provided good benefits to some employees to move there, and initiate an offshore center for them.
While many people started enjoying the life in India, there are some bitter experiences too, that made the people relocate back. People living here for years together have accustomed to a lifestyle. It is very hard to take the change, atleast for the kids. The political scenerio, beareucracy in the daily life, unclean surroundings, high pollution, quality of life all matters.
One big hurdle almost everyone faces to return to India is to make the kids adjust to India. Mrs.Vani Kola explains - "Talking to my husband about it was the easy part," she says. "Then I talked to the kids. If they fought me too much, I wasn't going to do it. It was shocking that they were excited about it. My (older) daughter said, 'This is a global economy, so we should go because it will look good on my Harvard application.' ". This is certainly encouraging.
The government of India warmly welcomes all the returning NRI. The recent Pravasi Bharatiya Divas attracted many aspiring NRIs and which offered a stage to talk about the government's support, recognition and contributions to the NRIs. India now offers Overseas Citizenship of India (OCI), which is close to dual citizenship with some exceptions such as right for voting, owning agricultural land etc. This facilitates multiple entry to India without any special visa, and let the NRIs stay any length of time. Almost all states have started an overseas ministry, to closely work with NRIs and to solve their problems.
Let us hope for a rosy India ahead, and a peaceful life for our retirement in India.