Macroeconomics impact of socio-economic indicators on Indian student mobility

Abstract

Over the years, Indian students have ventured into foreign lands to obtain not only a diploma from a premier institute, but also a holistic education with significant multi-cultural exposure. According to UNESCO UIS, there are 305,970i number of Indian students studying abroad with a prominent student body in United States, Australia, and Canada as of 2018. Indians form the second largest international student body worldwide, after the Chinese, with 10% of international students. The students range from undergraduate level to post-graduate level, pursuing not only traditional Science, Technology, Engineering, Math (STEM) subjects, but also Medicine, Law, Humanities and Social Sciences. Looking at the early history of student outflow, United Kingdom was a preferred destination for the Indians because of India’s colonial past. The academic degree and accreditation from the universities in the UK were applicable in India and the language of instruction was English. However, as time progressed and connectivity between countries increased, universities in the United States became a popular place for Indian students because of their academic excellence, cutting edge technology, opportunities for research and training, and long-term career prospects. Immigration of high skilled labor/students has been a catalyst for development and growth in advanced countries such as United States. On the technological front, Satya Nadella and Sundar Pichai, who completed their masters from reputed universities in US, lead the innovation landscape and consistently contribute to the American economy. There are many more like Satya and Sundar, who work in different professions, such as banking, consulting, medicine, and add tremendous value to the American system. The potential and skills of Indian students are matched with the resources at the host countries to create a win-win situation.