Indian 'colonialism', go forth & prosper

Overseas jobs were always a lucrative option. Now, options are widening even further for Indians, as ageing developed economies increasingly seek skilled professionals amid a workforce shortage. 70k-1 lakh trained nurses have migrated, and demand is expected to rise by 15-30% this year. This is great. A bigger opportunity awaits trained (wo)manpower, that includes industrial and transport workers, hospitality staff, care workers, teachers, and office and administrative personnel. A 2024 BCG-Convergence Foundation report, 'Global Horizons: Securing the 8M+ Global Job Opportunity for India's Talent by 2030', states that if India plays its cards right, the potential stock of India's expat workers could hit 14-15 mn, with inward remittances projected to reach $300 bn.

Beyond traditional destinations like the Gulf, Canada, the US and Britain (the last two tightening their immigration policies at their own cost), new markets like Germany, Japan and South Korea beckon. But India isn't the only one eyeing this space. The Philippines, Indonesia, Egypt, Vietnam and Brazil are also vying for a piece of the pie. The Philippines has built a robust ecosystem - from a focused nodal agency and strategic diplomacy, to a dynamic private recruitment network and globally aligned skilling programmes.

To unlock its full 'Go forth and prosper' potential, India must act decisively: forge G2G partnerships, streamline visa processes, brand and promote 'Talent India', align skilling with global standards - backed by subsidies, grants and scholarships - and offer formal financing to cover pre-migration costs, risks and insurance. India needs to 'colonise' the world with its talent. Such a rising tide can lift all boats, those anchored 'back home' included.