Labour Markets

Analysis of India’s Manpower Resources with Respect to Migration Aspect of Resources and Comparative Capabilities

Author : Vipan Kumar, Sunita Kumari, Sumbul Naqvi, Parthasarathi Banerjee | 2014

Due to globalization, the world has been changing into a global village. In one hand it has increased closeness and interconnectedness between various countries and economies; on the other, it has spawned an intense competition between them. Since 1990s, the information technology emerged as powerful tool for development of economies. It turned the world economy into a knowledge based economy. Therefore, the progress of an economy today depends on a broad base of intellectual capabilities of human capitals of society. Such human resources, which have ability for innovation and provide unique ideas have become a decisive asset in the global economy . In consequence, demand of skilled man power sharply increased in international market. Therefore, knowledge migration has acquired a significant place in the new world order. Developed countries have been facing skilled labor shortage because of ageing population so they have begun to rely on global labor supply. Outflow of scientists, researchers, skilled professionals, and students from developing countries to developed countries witnessed an unprecedented increased. Sometime back, outflow of skilled human resource was considered a loss-'brain drain' for sending countries, while for the receiving country it was 'brain gain'. However, there has been a change in perception. Now analysts and policy makers began to recognize overseas “knowledge workers” role in science, technology, and innovation development, in increasing remittance inflows, in boosting investments and trade of their origin countries. Returnee migrant students, scientists, and professionals are bridging gaps; they are enhancing interconnections, linkages, and knowledge sharing between sending countries and receiving country. China, India, and Taiwan are significant example of this trend.

URL : 20170622115042.pdf

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