Revival of Indian economy is expected to create 1 million new jobs during 2010. On 7 July, the Indian government removed the ceiling on number of foreigners a company can hire. These two factors have opened up the job market for foreigners wishing to come to India for employment.
Revival of the economy in 2010 is expected to create 1 million new jobs, according to a recent survey which covered the organized sector. Healthcare, real estate and construction, hospitality, and IT and ITES sectors will lead the growth in jobs. Other sectors which will see favorable hiring environment are services, public administration, education, mining and construction, finance, insurance, and the wholesale and retail trade sector
Recruitment pace is expected to return to the pre-recession level this year and corporate India's hiring outlook has risen across all sectors.
With a growing economy that promises a vastly improved lifestyle, India is increasingly emerging as a destination of choice for many Western expatriates who are coming not for a short stint of a few years but to pursue a long-term career. Indian companies, besides the technology sectors like information technology and telecom are hiring foreigners in large numbers both for projects within and outside the country. Leading examples are Larsen and Toubro and Reliance Industries Limited. Both companies hire foreigners for projects even outside the country.
Companies are willing to pay for the right talent, even up to 80% of equivalent U.S. salary level. In certain sectors like advanced electronics, cutting-edge health care, aerospace, and the nuclear energy sector, and manufacturing sectors like metallurgy and construction, salary can reach U.S. levels. Call centres servicing customers in Europe like France, Spain and Germany, are hiring people from those countries to service their customers better.
Work Visa Relaxation
Earlier Indian companies had to limit their foreign recruitments to 1% of their total workforce and pay them annual salaries of $25,000. NGOs were not allowed to hire foreigners ;those who were keen to work NGOs in India had to come on tourist visa to work as volunteers for a limited period
On 8 July 2010, India relaxed work visas rules for foreigners by removing the ceiling on the number of foreigners a company can hire as well as the minimum stipulated salary.
Though the new rules are designed to favor skilled workers and give preference to Indian origin people, they should make happy foreign job seekers who are willing to work here but were hindered by the cap on the number of foreigners who could have been hired, as well as the minimum salary requirement. Those willing to work for voluntary agencies (NGOs) will be treated at par with other expatriates who can come here for skilled and highly specialized jobs.
In the next two years time, the percentage growth of people willing to come and work in the Indian companies should grow around 200 to 250 percent.. Currently 21,000 foreign foreigners are working in different companies in India
Many Europeans and Americans, mainly the younger lot, come here for internship or take up training. They start liking it here and end up taking jobs to stay back in India. traffic and congestion top the hate list. Among major cities, the silicon valley of India, Bangalore is like because it has the facilities of the Western world and the charm of India.
For stay, foreign workers who intend to stay in India for less than a year have the option of budget hotels, paying guest and serviced apartment. Service apartments are cheaper than a star hotel, but provide all conveniences of 24/7 service, coffee shops, same day laundry, gym, travel services, Wi-Fi internet, multi-cuisine restaurants, proximity to business districts, night-life spots, culture, shopping malls, doctor on call and Business Center. Serviced apartments in Bangalore, Chennai, Hyderabad, and other major cities are the preferred choice for those who seek transit accommodation either for short-term or extended stay is because living at a serviced apartment feels much like living at home.