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Gulf charm wear off for IndiansGulf returnee numbers are rising.14 April, 2008 The Gulf is losing its charm for many Indians working there. The economic boom in India, new set of migration policies, appreciating rupee and inflation in gulf countries are compelling professionals working in the UAE and other parts of the Middle-East to look out for jobs in India. With India’s economic growth rate near nine percent, there are immense opportunities for professionals in different sectors in India. The major attraction for many Indian youngsters moving to Gulf countries used to be higher salaries. But the recent employment boom has initiated a strong salary growth back in India. Young professionals in India are getting comparatively higher salaries at world standards. Many industrial sectors are finding it difficult to get employees with requisite skillsets, and are willing to fork out more for a better workforce. In many Gulf countries, the governments have imposed many restrictions on migrants. Earlier, Indians preferred going to the Gulf mainly because of high salaries. However, India is witnessing tremendous economic activity with lot of global companies stepping up their investment here. The salary structure in India has also improved steadily with the flow of foreign capital. In such a scenario, professionals working in the Gulf region are contemplating job options in India for a better quality of life. Another factor affecting Indians in
the Gulf is the continuous rise of the
rupee against dollar. In 2006-2008,
the Indian rupee has appreciated more
than 20 percent against the dollar. It
has affected the revenue realization
for those who are sending money back
to India. The value of their
remittances have dropped as most Gulf
currencies are pegged to the tumbling
dollar.
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