GLOBAL TALENT MIGRATION
Bengaluru to become fastest-growing city as global companies home in on talent: Savills Exec
Global corporations are increasingly considering diverse locations, particularly India, for talent acquisition and growth. Bengaluru is projected to be the fastest-growing major city by 2035, according to Savills analysis. Other Indian cities like Chennai and Hyderabad are also showing strong potential in terms of GDP growth and population increase. The demand for global capability centers in India is expected to continue rising in the future.
US trade deal will protect all sensitive Indian interests, says Piyush Goyal
Commerce Minister Piyush Goyal said India’s trade deal with the US would protect sensitive interests, including those of farmers, and give the country a competitive advantage. He criticised opposition parties for questioning the agreement before its details were released, while defending India’s trade strategy and its decision to stay out of RCEP.
UK study visa applications hit a five-year low as universities face billions in lost economic benefits: Explained
In the UK, study visa applications have decreased by 10.3 percent compared to last year, hitting a five-year low. The decline is attributed to enhanced immigration laws and universities facing financial difficulties. International students play a crucial role in the UK's economy, contributing significantly and sustaining employment. The government's recent limitations on student dependants may further hinder new applications, potentially affecting broader economic stability and local job opportunities.
Online festive sales fizzle; Snowflake CEO on AI’s impact on software
Happy Monday! Festive ecommerce sales have slowed down this year, we tell you why. This and more in today’s ETtech Morning Dispatch.
World Bank warns of 800 million-job gap in next 10 years: Will global employment crisis affect Americans?
According to the World Bank, an alarming job crisis looms, with projections of an 800-million-job void worldwide. Ajay Banga, the bank's President, cautions that soaring youth unemployment could destabilize economies. This tumultuous landscape may lead to higher living costs for Americans, driven by disrupted supply chains and global wage competition.
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The economics of India's biggest export industry goes topsy-turvy
India’s $315-billion IT industry faces a structural shift as AI boosts productivity but puts pressure on pricing, revenue and entry-level hiring. Clients are demanding more output for less, while spending shifts towards AI, cloud and in-house capabilities.
Defence stocks: Time to change strategy in a bearish market? An ecosystem with down and upside potential of -39% to plus 37%
The current fall is both at the level of the indices and the broader market. And when the selling is this broad, almost every sector is affected. But they do not all feel it equally, and it is worth knowing why every sector behaves differently at different points of time. Stock Reports Plus, powered by Refinitiv, is a comprehensive report that evaluates five key components of 4,000+ listed stocks – earnings, fundamentals, relative valuation, risk, and price momentum – to generate standardised scores. The simple average of the above-mentioned five component ratings is normally distributed to reach an average score.
Germany has finalised an $8 billion deal with India for next-generation submarines: Jasper Weick
Germany has finalised an $8 billion deal with India for the construction of next-generation submarines. German ambassador Jasper Wieck stated that the agreement is ready for signing at India's convenience. He emphasised the importance of cooperation between India and Germany in the current global uncertainty. Weick also talked about Germany understanding India's energy predicament, however, he implored India to reduce the purchase of Russian oil.
Agonisingly slow clinical trial is stopping Indian pharma become global innovator from supplier
India's regulatory hurdles slow down early-stage drug trials significantly. This complexity causes Indian companies to conduct crucial first-in-human studies abroad. Other nations like the US and Australia offer faster approval processes for trials. China now leads in novel medicine development due to its streamlined regulatory environment. Reforming India's system can unlock its potential in novel drug innovation.
Another Indian to head Adobe: Are they better at running Big Tech?
The question is no longer why a few Indians have made it to the top. It is why so many of them appear particularly well suited to running some of America's largest and most complex technology companies.
India, Belgium agree to double trade; PM says nation's growth inspires global confidence
India and Belgium agreed to expand defense cooperation and signed several pacts. Key drivers for bolstering ties include trade, critical minerals, and high technologies. The two nations inked five agreements, aiming to double bilateral trade within five years. They also established a mechanism to promote Belgian investments in India. Cooperation will strengthen in renewable energy, semiconductors, and combating transnational crime.
India’s in-demand economic weapon can turn a global crisis into opportunity
India is expanding its network of labour agreements with countries around the world to connect Indian workers with job opportunities abroad. The push comes as ageing populations and shrinking workforces drive demand for talent across several countries. These agreements can facilitate the movement of workers while boosting remittance inflows to India. Ensuring the recognition of qualifications and portability of social security benefits will remain crucial to making these partnerships effective.
Australia announces migration program for 2025-26, holds intake steady at 1,85,000
Australia's permanent migration program will remain at 1,85,000 places for 2025-26, mirroring the 2024-25 intake. The skill stream will constitute 71% of the total, with 132,200 places, while the family stream will have 52,500 places. A new Talent and Innovation visa category, allocating 4,300 places, will streamline the process for highly skilled professionals.
Kerala records surge in skilled professionals returning from abroad: LinkedIn Report
A LinkedIn report has revealed significant return of skilled professionals to Kerala from UAE, Saudi Arabia and the UK. These people are seeking opportunities in IT, healthcare and business. Domestic migration from Karnataka and other regions is also bolstering Kerala's tech talent. The inflow and a growing talent pool is expected to shape Kerala's future polies.
How migration and talent shape the global economy in an age of borders
Global migration patterns are changing due to economic pressures and geopolitical tensions. While countries like India see skilled workers heading abroad, others face challenges. China's talent is returning home, while Nigeria struggles with unemployment. Europe seeks to attract US scientists, and Australia grapples with immigration debates amid rising costs.
UK launches new taskforce and fund to attract global science, tech talent
Aimed at boosting innovation and economic growth, the initiative supports relocation and research, targeting elite researchers, entrepreneurs, and creatives aligned with Britain’s new 10-year industrial strategy.
Key initiative launched to facilitate mobility of Indians abroad
The Global Access to Talent from India (GATI) Foundation has launched to facilitate the mobility of the Indian workforce abroad, addressing a projected global shortage of skilled workers. GATI aims to create ethical pathways for international talent mobility through collaboration between governments, businesses, and nonprofits.
Why is Zoho boss Sridhar Vembu not alarmed about migration of India's top talent?
Indian immigration, especially the H-1B visa debate, sparks mixed feelings. While the diaspora’s success abroad brings pride, concerns over brain drain persist. Zoho CEO Sridhar Vembu recently shared his perspective, emphasizing the economic growth and aspirations driving this migration trend.
Battle for tech talent now shifts to hinterlands on reverse migration
As tech employees returned to their hometowns during Covid-19, the IT talent hunt has shifted to tier-2 and smaller cities, which hold the default advantage of lower operational costs and low attrition rates. These cities may have been overlooked before, but with better infrastructure like reliable power supply and affordable high-speed internet, they are becoming talent hubs.
Australia overhauls immigration system with new Innovation Visa
The Australian government introduces an innovation visa to attract talented workers, replacing the Global Talent visa program. The move marks the end of the Business Innovation and Investment visa program (BIIP) and includes measures to address post-pandemic challenges, such as rental market impact and inflation rates.
Kerala emerges as leader in healthcare talent migration to MENA countries
Kerala is the frontrunner in healthcare talent migration from India to the Middle East and North Africa (MENA) region, with a 3.3-fold increase in demand in the United Arab Emirates (UAE). MENA countries offer incentives and state-of-the-art healthcare infrastructure. Indian professionals meet rising talent demands, and the CEO emphasizes India's crucial role.
Finland is looking for international talent; specially in IT, healthcare and cleantech
Finland has established itself as a center of possibilities for students, researchers, and innovators, actively inviting global workers to tackle the growing labor challenges. The country aims to draw in 15,000 international students annually by 2030 and elevate work-based migration to 30,000 individuals per year.
More than 15,000 Indian tech workers moved to Canada last year
India accounted for the largest number of tech industry workers who migrated to Canada between April 2022 and March 2023, according to a report by The Technology Councils of North America and Canada's Tech Network. The report attributed this trend to Canada's immigration-friendly policies and cost advantage. The rise of remote work, exacerbated by the COVID-19 pandemic, has led to tech talent moving away from traditional tech hubs.
Australia raises migration target amid labour squeeze, global talent race
The increase will take effect for the current financial year ending June 2023 and will bring Australia's immigration target largely in line with the annual cap of 190,000 that was in place between 2013 and 2019.
India emerges as biggest source for digital talent: Survey
"The digital talent landscape India ranks highest in proportion of digital talent at 76 per cent," according to the Capgemini and LinkedIn survey.
Change adverse culture hindering innovative HR practices: Study
42 per cent said it was crucial in securing the best talent and a further third that it was key in hiring niche or hard to find talent (33 per cent).
Worker migration essential for easing talent shortage: Manpower
Amid a recovery in the global economy, it is important for countries worldwide to create a mobile workforce to ease the worldwide talent shortage.
European crisis may spark talent migration to Asia
Talent migration may soon become the buzzword in the global job market, as experts feel emerging Asian nations.
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