Governments come and go, policies are made and changed, promises are made and forgotten, and yet the Indian economy and the Indian currency continues to be at a level lower than its foreign counterparts, especially when compared to the developed western nations. So what gives? Well, it is about time that the Indian youth took charge to lead the economic revolution. The youth needs to rise beyond armchair activism, social media commentary and campaigns, and take a step into the outside world to help India and its economy grow and make a mark on the international stage. Here are a few hindrances to this dream, and some solutions which could be helpful in overcoming these obstacles:
Brain Drain
This isn’t a new concept. In fact, it is one which we are well versed with and have been witnessing for many, many years. Most Indian students seek to go overseas to complete their final degree in the hopes of getting a better job with a greater pay package than the one they could have received in India. This makes sense for the simple reason that the dollar and the pound are currencies which are many times the size of the Indian rupee, and have been going strong and only increasing over the decades. Most students end up taking huge loans in the hopes of getting an international education and then raking in the monies in an international setup. In fact, even if they don’t have an international education, even graduates from the IIM’s and IIT’s, and even the other numerous, renowned colleges throughout India prefer a job overseas as compared to India. The quality of life and the pay package are the major incentives for them to favour these jobs instead of staying back in the country and helping the nation grow.
The solution for this is that the best minds of India should be paid the best salaries in India by the Indian companies and government if they want to retain them, salaries on par with their international counterparts. That is the only way they will be staying back, after all, everyone wants to earn the best possible salary in their professional careers.
Population
One of the major deterrents towards the rise of India as an economic superpower is its population. Indian cities have the maximum population density in the world, and with the ever-increasing population, jobs are less in number, while applicants are numerous. This adds to the brain drain as the truly intellectual make the smart choice of moving out in search for a better quality of life, better salaries, and better working conditions without exploitation.
One solution for this is simply developing the nation as a whole and building more cities instead of adding more people to the already tightly filled cities. After all, a truly developed nation needs to have equal growth throughout, and not just concentrated growth in a few places to the detriment of everywhere else.
Only on achieving equivalent growth throughout and ensuring a better quality of life for all its citizens will the economic revolution happen. To that end, the youth and the government have to work hand in hand by supporting each other so that India rises as an economic power, and all of its denizens can live a happy life.
No matter what profession you opt for, the economy is going to have a major impact on you directly or indirectly. In this vow, it is thus necessary for all of us to pay attention to the market and aspire to lead the economic revolution. We need to start to learn and earn in India. This will eradicate the menaces of the brain drain, one. Second, we can always look for cutting down on the imports and rectify the export discrepancies.