Working in India demonstrates the willingness to work in a new culture and international market. As India’s importance in world economy increases, work experience in this country will become increasingly profitable.
Overview of Indian economy
India's economy is one of the largest in the world and the third largest in Asia. If it keeps growing at current rates, it will become the third largest economy in the world within the next ten years. Though agriculture is becoming less and less important, more than 60 % of the Indian population still depends on it.
However, the Indian economy is visibly changing. Look no further than the IT parks that have sprung up like mushrooms. Today, more than 50% of India's GDP is generated through services.
The Indian government has made huge efforts in terms of market liberalisation to attract foreign capital. Multi-national companies that were unable to invest in India 20 years ago due to strict regulations are now spending vast amounts of money creating ultra-modern infrastructure. However there are still many obstacles when it comes to doing business in India. This is why India ranks as one of the most difficult countries for business.
India´s billion person market is one of the largest in the world. In terms of spending power, India is the fifth-largest economy in the world.
One of the fastest growing sectors in India is the IT-sector. Every year, many graduates from Indian universities enter the job market competing for the highest salaries. However demand in this sector is still high and likely to remain high. India has become one of the major exporters of software services within the last years, and around two thirds of worldwide off-shore IT services are based in India.
Engineering is another rapidly growing sector in India. As Indian companies start to expand globally, it becomes easier for foreigners to start their careers in India. Labour demand is especially high in the fields of biotechnology, aeronautics, auto industry and consumer electronics.
Positions in marketing and sales are also widely available. In international companies these positions are often given to foreign nationals.
Major companies in India
There are many multi-national companies operating in India, such as IBM, PWC, Goldman Sachs, ABN Amro, Microsoft, Unilever, Adobe and BP. Many Indian companies have also started recruiting expatriates. Examples for Indian companies are Tata Engineering, ITC, TCS and Infosys. You find more information on Indian companies on-line at www.fundoodata.com.
Job opportunities for expatriates in India
Since India has a huge supply of cheap labour, good education is the key to success. A western college or university degree is a major advantage and a few years of work experience will improve your chances of finding a job in India.
India's growing economy creates huge demand for highly skilled workers. While sectors such as IT are popular among young Indians, others face the problem of a lack of qualified labour. There are many education and professional training possibilities in India, but they cannot (yet) meet the demand of qualified people. This has created opportunities for expatriates who want to work in the education and professional training fields.
Upper management positions used to be filled with expatriates. Work experience in the West, especially in the USA, was seen as major advantage. Although this is often still the case, Indian companies usually prefer to employ indigenous staff.
Teaching English is always an option for expatriates and there are many jobs available at high schools, universities and at language schools. Being a native teacher with a TEFL certificate is usually enough to apply for a teaching job. If you want to teach at international schools you will need to meet additional education requirements. Positions at these schools are limited. There are also teaching positions available at institutions focusing on international culture. Many of these institutions train employees for India-based call centres.
Learning the language of the Indian region you want to work in is not necessary, as English is spoken in most companies. It will improve your chances of finding a job, however, and, eventually, of getting a promotion.