A sluggish economy and waning employment opportunities are driving an increasing number of young people away from India, a trend that could reportedly spark tensions in other nations.
Foreign companies in the country are less willing to hire local people while slowing demand has forced Indian firms to cut back on hiring, putting a strain on limited employment that needs to accommodate an increasing working age population.
India’s working age population, aged 15 to 64, is growing at an annual pace of 2%, as younger people make up the largest portion of the total population, according to The Nikkei.
Meanwhile, the number of employed people rose a meager 0.3% per year in India.
This has forced young Indians to seek employment overseas, particularly in the US, Europe and Southeast Asia.
Out of the 7.5 million visas issued by the US government, 7% or 550,000 were given to Indian nationals.
But the influx of Indian workers with specialized skills, such as IT engineers, could potentially deprive Americans of employment opportunities. In 2010, the US government implemented protective measures such as raising visa fees for workers with specialized skills.
The swelling number of Indian migrants in Australia has triggered social tensions which led to a number of fatal attacks. But the tragic incidents have not deterred Indians from heading to Australia.
The outflow of people from India could accelerate as the economy of the world’s second-most populous nation continues to slow.