Chalavadi Suman Kumar (My Life Line)

February 18, 2008

Reverse Brain Drain and Entrepreneurs in India.

Filed under: Uncategorized — సుమన్ @ 10:05 am
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Brains – Yes, I am talking about Indian Engineers, who left India for high-scale jobs, settled in alien countries by hook or cook, earned millions of dollars over years of service to the aliens. Thousands of miles away from homeland, they strived for their survival, did weekly jobs, ate less food to save more bugs, cried for relatives, can’t even attend for important funerals, worked like machines, are now the master minds with lots of money. These brains have money, education, knowledge and experience but not their home. Now their homeland is inviting them back with promising market for investments and high-rated facilities. They started moving back not just because India is promising, as they have affection for the country.

This Reverse Brain Drain not just brings the talent-pool, but also millions of dollars as investment to India. I started surveying about these NRI investments. I gave the first query in Google as ‘NRI Investments in India’. Five of the top 10 results talked about ‘Real Estates’ investments, 2 links pointed to Equity & Shares investment. This shows the dominance of Real Estate business in the NRI Investments, just because it is safe. This increased the land rate drastically and tortured the middle man to survive in cites like Hyderabad where rentals are high.

But there are also entrepreneurs who invested in small companies and startups. Some even started their own companies. Some started companies overseas and had outsourced their operations to India. Now these investments are high comparatively over the last 10 years, but when we compare the Foreign Direct Investments to China, what our NRI investors bring is like peanuts. This shows that still there is lack of confidence of our NRIs on our markets. Encouragement for Entrepreneurship over the last few years in India might increase the number of Entrepreneurs in India, but not guarantee the confidence of these NRI investors.

When I talked to 5-10 upcoming or new entrepreneurs over the last few months, the main drawback I have seen is, everyone came from the same track of difficulties and issues wasting 3-5 years of their time on a similar set of problems. But I never seen any two of those startups worked coordinately to solve their common problems. None of them were able to come out with a product with in 2 years. A strong networking and co-ordination of these startups can bring down the time required for product release to great extent. This may improve the confidence of our NRI investors. All the best to those entrepreneurs who are passioned about their dreams and working hard to make it to reality.

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