India Inc snaps up expats

Mumbai: As the Western economies continue to remain in deep freeze, more and more foreigners, mostly from the US and Europe are looking at India for jobs, a trend that has seen up to 20 per cent spurt this year,according to head-hunters.

According industry estimates, there are as many as 40,000 expats working in various industries in the country today.

"Hiring of expats has picked up by 15-20 per cent at all levels since last year, mainly on account of India being one of the fastest growing economies offering huge job opportunities," recruitment process outsourcing firm Elixir Consulting Manager for International Practices Ratnesh Kumar told here.

Increasing number of expats are seeking jobs in the country on account of job cuts in their home countries,coupled with rising outsourcing and high taxes, he said, adding that this is happening more in the US and Europe.

The Indian experience also adds values to the expats` resume, reflecting an individual`s ability to adapt and deal with diversity, he explained.

These professionals are mainly being hired in banking and financial services, automobile, pharma and retail sectors, apart from areas, where the domestic industry does not have competency like alternative energy, complex infrastructural sector, etc he said.

"While CXOs are generally offered around USD 2,50,000 per annum, mid-manager level employees get USD 80,000-1,25,000 per annum," he said.

The number of foreigners seeking jobs in the country are no longer limited to the middle and senior levels, but is spreading over to beginners as well, he said, adding that at present, there are around 40,000 expats working in the country and the number is still growing.