Brain Drain | Why are Indians Rushing Abroad Again? | Akash Banerjee feat. PuNsTeR™ - YouTube

Twitter has a new CEO in Parag Agrawal and Jack has resigned... abey editor not this one.

So as I was saying...

Editor why can't you be serious for once?

Jack Dorsey has resigned as CEO of Twitter. Parag Agrawal, born and brought up in Mumbai, studied at IIT-Bombay is the new CEO.

The country celebrated this news as if ache din finally came.

It's only fair when one of our own has attained the top-most position in one of the best social media companies.

Comedians like Vir Das insult going abroad. He should learn from Parag Agrawal and the likes instead and settle abroad.

The happy news soon became a meme festival...

Now, there is more pressure on the other Agarwal families.

Some even added a pinch of nationalism... by bringing in Pakistan, as you can see:

70 years worth of achievements in one meme? It's like that dialogue from Deewar movie...

However, soon Elon Musk jumped in. He tweeted:

Firstly, Musk not launching Tesla car in India and now he's tweeting on India's brain drain?

But it's a bitter truth. Because, 6 lakh Indians have given up citizenship since 2017.

Why does brain drain persist? Can we blame Nehru?

Why are people giving up their citizenship? It is said that 35,000 entrepreneurs have left the country.

What is the negative impact of brain drain and how can it be stopped?

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What is the difference between Vir Das and Kangana Ranaut? One got freedom in 1947 and another in 2014.

Despite twice the independence, quit India or brain drain continues. The Brits had left... Now Indians are going too.

In fact, Chinmay Tumbe of IIM-Ahmedabad has found that:

Can't these people wait for ache din?

Indian diaspora is increasing by the day. But how many will return?

Nityanand Rai, Minister of State for Home Affairs, told the Parliament that...

1.11 lakh have left in 2021 alone.

He also told the Parliament...

6 lakh left and only 4,177 became Indian citizens... not fair!

We will get into the maths for the sake of country. Why are they leaving?

One thing, they are leaving for greater opportunities... company heads, politician, astronaut, etc.

But why are talented people leaving? And do we care enough about brain drain?

The cause was not revealed in the Parliament but it must be known...

Because if one wants to give up citizenship one has to fill form XXII and write their reason for doing so.

So why not disclose the reason for brain drain?

They can tell toll loss suffered due to farmers protest. They can tell how much is spent to clean spit stains on railways.

But how many died in farmers protest? No idea... so no question of compensation.

Anyway, our population is also very high so does it matter if some people leave the country?

According to global wealth migration review, 7000 ultra rich Indians left the country in 2019. We are only behind China in this case.

5000 Indians left in 2020 despite pandemic restrictions. And as per Morgan Stanley report...

West Bengal finance minister has claimed that 35,000 high net worth entrepreneurs left.

These people could've paid taxes here, have given job opportunities to many had they stayed. Now they'll be paying taxes to a foreign nation.

Whether or not black money returned is unclear. But talented individuals are leaving every year.

What is attracting their attention abroad?

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The high net worth individuals leave for better quality of life.

According to CS Global partners, some countries give nationality in return for large investment. Ultra rich people use this opportunity.

For the UK, they require a great business plan and you can apply for entrepreneur visa and start business there.

We have renowned institutions like IIT and IIM but none of our institutions in the top 100.

Students are always ready to go abroad for higher education and settle down there.

Does the system here have the capacity to attract ultra rich or talented individuals back?

Instead, over 1 crore aspirants are waiting 3 years for exam schedule of group D railway.

Wage gap is also one of the causes of brain drain. Skilled labour is valued more abroad.

For example: Average wage of a person in the US is more than 6 times of their Indian counterpart in Academia.

So what can be done to stop brain drain?

After liberalization, reverse brain drain began as NRIs returned to India in big numbers.

Another reason for return was the dot com bubble burst. However, the reverse brain drain continued even after the year 2000.

Because at this time, Indian economy was booming faster than foreign economies.

Films like Swades (released 2004) explored the idea of reverse brain drain.

The Sensex was skyrocketing around this time, observing growth of 310%. The US equivalent had only grown by 62%.

So, growth was clearly visible.

The circumstances have changed, now. After demonetization and GST, the economy suffered another blow by the hands of corona.

Some solutions to brain drain are as follows...

At one point, ease of doing business rank was celebrated. But World Bank observed data juggling and stopped it.

Ask any small business owner near you and you will know the actual ease of doing business.

China once went through similar problem of brain drain. They started a thousand talents plan- open invitation to their top scientists around the world.

In few years, China was able to get back 7000 of top scientists.

If we can steal their airport image, we can also steal this idea, right?

We salute the global CEOs of Indian origin... as they have made name for themselves and for the country.

But it also points to the bitter truth of brain drain.

What's more, hardly anyone is coming back. Can this change?

Not until we are fighting amongst ourselves, boycotting our own brands in petty politics.

How can we think of becoming a superpower without the talented people?