BD struggling to penetrate into Chinese drug market

[Nilgiri]

Frankly, I see our pharma sector accomplishments something to be proud of. Well done to all the authorities and correct decisions involved. And furthermore, this sector has the capacity to be successful abroad as well.. given we have a relatively low cost base and strong focus on quality. Else, FDA wouldn't have approved few of our drugs to be sold in US. Its not much but still a encouraging start.

Truth be told, apart from having an administration body, we also need more investment in research and development - something that we clearly lack in our educational sector. I've been quite vocal about this here and often given examples of how India has progressed due to their reformed educational policies and capital injection in R&D. No shame in learning from good from others. It however appears to me that Govt. has become a bit complacent due to the local success of this industry and that's problematic. I hope things get shaken around a bit in this term.

Trust me, I go a little too far with what I do sometimes (though lately I have settled into an equilibrium here...its nice).

BD has much to be proud of and I wish it well....I just hope it takes proper decisions by being transparent+pragmatic (with itself and others) on the major issues of note.

 

[bd_4_ever]

Trust me, I go a little too far with what I do sometimes (though lately I have settled into an equilibrium here...its nice).

BD has much to be proud of and I wish it well....I just hope it takes proper decisions by being transparent+pragmatic (with itself and others) on the major issues of note.

Thanks.

I would be particularly curious to learn how India has managed to attract talents back home, ones who have pursued foreign degrees. And upon their return, what are the govt. plans/programs put in place to get them a stable career. Any site/link I can read up?

I did check into what China does. They have something called a 'Thousand talent plan', under which they target to bring back 1000 Chinese students/year who study abroad on their govt. funding/scholarships and prepare placements for them in their field of specialization. Its impressive I must say.

 

[Nilgiri]

Thanks.

I would be particularly curious to learn how India has managed to attract talents back home, ones who have pursued foreign degrees. And upon their return, what are the govt. plans/programs put in place to get them a stable career. Any site/link I can read up?

I did check into what China does. They have something called a 'Thousand talent plan', under which they target to bring back 1000 Chinese students/year who study abroad on their govt. funding/scholarships and prepare placements for them in their field of specialization. Its impressive I must say.

Sorry to make this reply a bit long, but I feel the underlying issue needs a bit of airing out:

China basically has enough USD forex stockpile to make it a state-engineered program now...at the commensurate scale.

People often say India has a large one too (400 billion USD) but one has to remember it was not accumulated in same way China has done it. A huge amount in India's case are capital account based (foreign currency deposit by Indian expats, PIOs and foreign companies etc) rather than appreciable current account surplus accumulation like the case with China (this is actually significant because they are somewhat opposing forces...i.e more of one creates reverse flow effect/pressure on the other...given in theory they should sum to zero).

This means the sustained velocity use/deployment of these holdings is also affected structurally. In India case they are much more static (given its capital based and thus sort of a root that plants/forests are attached to "above ground"...so you cannot simply move/liquidate it all that easily, not without massive negative effects above ground) compared to China. In China's case it is far more liquid (since it comes from current account which is a far more liquid flow, i.e basically exporters exchanging their foreign monies at Chinese banks for what the Chinese govt prints for them to use within China)...but China basically chooses to keep a huge part of it pretty static (to essentially subsidise their employment/labour on international realm by keeping the CNY pegged at a weaker level than it otherwise would not be if that forex was not made so static).

However that said, China still by scale and underlying structure of the forex still has that much more overall liquid buffer to use than say India....which can be put to use above and beyond the generic velocity of such sustained by the private sector etc.

When it comes to attracting talent from abroad, this is pretty significant because such people in the end need to have a wage/living standard commensurate (to at least some relevant degree) with what they can bargain and obtain in the larger developed world etc.

Thus in India case, it is somewhat proceeding more piecemeal and by purely more privately controlled market forces (which grow as the economy grows overall):

https://economictimes.indiatimes.co...rotectionist-regimes/articleshow/61177463.cms

This probably will be most appropriate way for BD as well to follow and learn/integrate from (as it gets to the appropriate phase in economic development where it has the drive/need to sustainably call in its own foreign deployed "chips" for more appropriate use internally etc) since its forex scale and structure per capita is more similar to India's than China's....and will be for quite some time in foreseeable future.

Over time when more solid floorboards have been put underneath Indian economy and BD economy (and hopefully BBIN and region more broadly)...there is more scope for govt focus on the issue. But I feel its too premature for that in the region, given their attentions are best diverted to improving what they are supposed to be delivering (at the ground) at a more basic level (w.r.t their extraction by taxes and hedging on that with borrowing to be able to spend more...and realised deployment efficacy of that spending etc).

@Joe Shearer @jbgt90 @padamchen @Sam. @Skull and Bones @GeraltofRivia @dy1022 @VCheng @Mage @Atlas @bluesky @Chinese-Dragon @CNSpeed @Roybot @Levina @anant_s @TaiShang @rott @Cookie Monster @Viet @Indos @long_ @nair @Chak Bamu @ziaulislam @Game.Invade @Major Sam @farhan_9909

 

[padamchen]

Sorry to make this reply a bit long, but I feel the underlying issue needs a bit of airing out:

China basically has enough USD forex stockpile to make it a state-engineered program now...at the commensurate scale.

People often say India has a large one too (400 billion USD) but one has to remember it was not accumulated in same way China has done it. A huge amount in India's case are capital account based (foreign currency deposit by Indian expats, PIOs and foreign companies etc) rather than appreciable current account surplus accumulation like the case with China (this is actually significant because they are somewhat opposing forces...i.e more of one creates reverse flow effect/pressure on the other...given in theory they should sum to zero).

This means the sustained velocity use/deployment of these holdings is also affected structurally. In India case they are much more static (given its capital based and thus sort of a root that plants/forests are attached to "above ground"...so you cannot simply move/liquidate it all that easily, not without massive negative effects above ground) compared to China. In China's case it is far more liquid (since it comes from current account which is a far more liquid flow, i.e basically exporters exchanging their foreign monies at Chinese banks for what the Chinese govt prints for them to use within China)...but China basically chooses to keep a huge part of it pretty static (to essentially subsidise their employment/labour on international realm by keeping the CNY pegged at a weaker level than it otherwise would not be if that forex was not made so static).

However that said, China still by scale and underlying structure of the forex still has that much more overall liquid buffer to use than say India....which can be put to use above and beyond the generic velocity of such sustained by the private sector etc.

When it comes to attracting talent from abroad, this is pretty significant because such people in the end need to have a wage/living standard commensurate (to at least some relevant degree) with what they can bargain and obtain in the larger developed world etc.

Thus in India case, it is somewhat proceeding more piecemeal and by purely more privately controlled market forces (which grow as the economy grows overall):

https://economictimes.indiatimes.co...rotectionist-regimes/articleshow/61177463.cms

This probably will be most appropriate way for BD as well to follow and learn/integrate from (as it gets to the appropriate phase in economic development where it has the drive/need to sustainably call in its own foreign deployed "chips" for more appropriate use internally etc) since its forex scale and structure per capita is more similar to India's than China's....and will be for quite some time in foreseeable future.

Over time when more solid floorboards have been put underneath Indian economy and BD economy (and hopefully BBIN and region more broadly)...there is more scope for govt focus on the issue. But I feel its too premature for that in the region, given their attentions are best diverted to improving what they are supposed to be delivering (at the ground) at a more basic level (w.r.t their extraction by taxes and hedging on that with borrowing to be able to spend more...and realised deployment efficacy of that spending etc).

@Joe Shearer @jbgt90 @padamchen @Sam. @Skull and Bones @GeraltofRivia @dy1022 @VCheng @Mage @Atlas @bluesky @Chinese-Dragon @CNSpeed @Roybot @Levina @anant_s @TaiShang @rott @Cookie Monster @Viet @Indos @long_ @nair @Chak Bamu @ziaulislam @Game.Invade @Major Sam @farhan_9909

Largely true but increasingly a somewhat mixed bag especially in the healthcare space.

Even though we are a huge country with some very poor people, at the central level, because we are so huge, even at 1.5% of GDP outlay, some government focused target areas are awash with funds.

That translates into government private relationships at mutually attractive terms for individual goals.

What that also means is growing opportunities for junior and middle level highly skilled talent educated and oftentimes working abroad, with young growing families who they want growing up in an Indian culture.

Familial soft pressures, homesickness, reluctance more than inability to adjust to an alien culture do the rest ....

This often works. Sometimes does not as well. Since it is so human dependent.

Cheers, Doc

 

[Joe Shearer]

@Nilgiri

Your point about the different compositions of the accumulated reserves in India and in China is a good point at which to start. It might be argued that it is better to have relatively static reserves as India does; that removes the temptation to fool around with the money, unless, of course, you are sitting in the electoral tumbrils already, and are up to chasing out the RBI Governor, suggesting that the board should run the bank, a simply rotten idea, putting in voodoo economists to manipulate the board, and hoping very hard that you can get your hot little hands on that luverly pile of loot. Removing these gangrenous influences from consideration, to look at the situation in the abstract, surely it is far more healthy to create a situation for the returnee that is not artificially 'egged up' with cash that doesn't belong to the equation.

If we wanted to get you back, what would we need?

We would need both a professional eco-system in which you can flourish (I deleted some speculative but highly libellous ruminations and am writing this instead ) and a personal eco-system in which your family can flourish.

The professional eco-system that you have created for yourself at the cutting edge of simulation is not possible here, not for another decade or two even in principle, forget about a sufficiently large market that would help the local Nilgiri to navigate comfortably between multiple clients.

As for the personal eco-system, where is the housing? the neighbourhoods? the roads? the utilities? the services, civic, health care, educational? Most of all, job availability? Please let's not say that these are the areas where we find a need to tap into that accumulated capital; we don't need higher wages, we need creation of general infrastructure for all, the low-paid clerk as well as the cutting-edge aerospace engineer, and for that kind of infrastructure building, why would we not use deficit financing? How will higher wages for a very, very few elite people help?

In any case, instead of looking at pushing in additional funds, we should be looking at administrative efficiencies. We lose huge amounts in leakage from the system thanks to the inefficiency of collecting taxes, the very large number of people involved in this collection, the leakages due to bribery and corruption, and finally, the barefaced larceny of the politicians. Before we even start looking at pinching some money from the capital reserves, we need to ensure that we can't possibly get more than we get today, without any additional funds.

 

[Nilgiri]

Largely true but increasingly a somewhat mixed bag especially in the healthcare space.

Even though we are a huge country with some very poor people, at the central level, because we are so huge, even at 1.5% of GDP outlay, some government focused target areas are awash with funds.

That translates into government private relationships at mutually attractive terms for individual goals.

What that also means is growing opportunities for junior and middle level highly skilled talent educated and oftentimes working abroad, with young growing families who they want growing up in an Indian culture.

Familial ssof pressures, homesickness, reluctance more than inability to adjust to an alien culture do the rest ....

This often works. Sometimes des not as well. Since it is so human dependent.

Cheers, Doc

Yep I should have underlined the "to some relevant degree"...there is definitely a lot of social elasticity + "other" factor in there of course.

@Nilgiri

Your point about the different compositions of the accumulated reserves in India and in China is a good point at which to start. It might be argued that it is better to have relatively static reserves as India does; that removes the temptation to fool around with the money, unless, of course, you are sitting in the electoral tumbrils already, and are up to chasing out the RBI Governor, suggesting that the board should run the bank, a simply rotten idea, putting in voodoo economists to manipulate the board, and hoping very hard that you can get your hot little hands on that luverly pile of loot. Removing these gangrenous influences from consideration, to look at the situation in the abstract, surely it is far more healthy to create a situation for the returnee that is not artificially 'egged up' with cash that doesn't belong to the equation.

If we wanted to get you back, what would we need?

We would need both a professional eco-system in which you can flourish (I deleted some speculative but highly libellous ruminations and am writing this instead ) and a personal eco-system in which your family can flourish.

The professional eco-system that you have created for yourself at the cutting edge of simulation is not possible here, not for another decade or two even in principle, forget about a sufficiently large market that would help the local Nilgiri to navigate comfortably between multiple clients.

As for the personal eco-system, where is the housing? the neighbourhoods? the roads? the utilities? the services, civic, health care, educational? Most of all, job availability? Please let's not say that these are the areas where we find a need to tap into that accumulated capital; we don't need higher wages, we need creation of general infrastructure for all, the low-paid clerk as well as the cutting-edge aerospace engineer, and for that kind of infrastructure building, why would we not use deficit financing? How will higher wages for a very, very few elite people help?

In any case, instead of looking at pushing in additional funds, we should be looking at administrative efficiencies. We lose huge amounts in leakage from the system thanks to the inefficiency of collecting taxes, the very large number of people involved in this collection, the leakages due to bribery and corruption, and finally, the barefaced larceny of the politicians. Before we even start looking at pinching some money from the capital reserves, we need to ensure that we can't possibly get more than we get today, without any additional funds.

Merciful heavens! Agreed 100%.

In my personal case, past the niche stuff I do on day to day basis...its really the bedrock I am interested in returning with and spawning/growing stuff in my homeland (I don't simply want to be captured by some elite company and given a fat check for doing rudimentary stuff that just takes away jobs from lot younger ppl that could use it etc). I am still eagerly acquiring a lot more I can here (knowledge + deployment of said knowledge) w.r.t that bedrock (and important edifice above it) more than I could in India....and like you have aptly pointed out, there will be issues with deployment that I also seen first hand (from ppl I know and admire greatly that have returned and trying their best in the landscape present..) at the current stage (which mind you has improved from what it was earlier by large amount, though dependent on the particular sector like doc points out well).

Once I approach a more diminishing returns/plateaued level here in Canada/North America and India also has grown more ready to absorb and grow (I do not need it anywhere near "perfect" just enough to present me a solid chance I perceive of getting enough momentum past what I can do myself)...is probably when I seriously look deeper and past my current activities which are more generic in nature...and how that all fits w.r.t family issues + broader friends/social network as well etc.

It is why I am deeply studying a lot of the issues in India's case (in spare time) so I am more prepared when I do commit my hand fully...and I expect there will be lot of muddying and learning experience for sure regardless. It will take some more years of this process....and India's people in the places that matter have still a lot to do as well on their end. I see plenty of great early + midstream signs though (for example I read some mind blowingly good papers from my dad's old university IISc just a few months back), I am very optimistic.

 

[Joe Shearer]

Yep I should have underlined the "to some relevant degree"...there is definitely a lot of social elasticity + "other" factor in there of course.



Merciful heavens! Agreed 100%.

In my personal case, past the niche stuff I do on day to day basis...its really the bedrock I am interested in returning with and spawning/growing stuff in my homeland (I don't simply want to be captured by some elite company and given a fat check for doing rudimentary stuff that just takes away jobs from lot younger ppl that could use it etc). I am still eagerly acquiring a lot more I can here (knowledge + deployment of said knowledge) w.r.t that bedrock (and important edifice above it) more than I could in India....and like you have aptly pointed out, there will be issues with deployment that I also seen first hand (from ppl I know and admire greatly that have returned and trying their best in the landscape present..) at the current stage (which mind you has improved from what it was earlier by large amount, though dependent on the particular sector like doc points out well).

Once I approach a more diminishing returns/plateaued level here in Canada/North America and India also has grown more ready to absorb and grow (I do not need it anywhere near "perfect" just enough to present me a solid chance I perceive of getting enough momentum past what I can do myself)...is probably when I seriously look deeper and past my current activities which are more generic in nature...and how that all fits w.r.t family issues + broader friends/social network as well etc.

It is why I am deeply studying a lot of the issues in India's case (in spare time) so I am more prepared when I do commit my hand fully...and I expect there will be lot of muddying and learning experience for sure regardless. It will take some more years of this process....and India's people in the places that matter have still a lot to do as well on their end. I see plenty of great early + midstream signs though (for example I read some mind blowingly good papers from my dad's old university IISc just a few months back), I am very optimistic.

Have you been to IISc, recently? You might get a pleasant surprise.

 

[Nilgiri]

Have you been to IISc, recently? You might get a pleasant surprise.

Yes I was there a cpl years back...when I was visiting relatives in Bangalore. Yes was very pleasantly surprised in many ways. My dad misses the old Bangalore though....the city he knew and loved as a garden city has gone.

 

[padamchen]

Yep I should have underlined the "to some relevant degree"...there is definitely a lot of social elasticity + "other" factor in there of course.



Merciful heavens! Agreed 100%.

In my personal case, past the niche stuff I do on day to day basis...its really the bedrock I am interested in returning with and spawning/growing stuff in my homeland (I don't simply want to be captured by some elite company and given a fat check for doing rudimentary stuff that just takes away jobs from lot younger ppl that could use it etc). I am still eagerly acquiring a lot more I can here (knowledge + deployment of said knowledge) w.r.t that bedrock (and important edifice above it) more than I could in India....and like you have aptly pointed out, there will be issues with deployment that I also seen first hand (from ppl I know and admire greatly that have returned and trying their best in the landscape present..) at the current stage (which mind you has improved from what it was earlier by large amount, though dependent on the particular sector like doc points out well).

Once I approach a more diminishing returns/plateaued level here in Canada/North America and India also has grown more ready to absorb and grow (I do not need it anywhere near "perfect" just enough to present me a solid chance I perceive of getting enough momentum past what I can do myself)...is probably when I seriously look deeper and past my current activities which are more generic in nature...and how that all fits w.r.t family issues + broader friends/social network as well etc.

It is why I am deeply studying a lot of the issues in India's case (in spare time) so I am more prepared when I do commit my hand fully...and I expect there will be lot of muddying and learning experience for sure regardless. It will take some more years of this process....and India's people in the places that matter have still a lot to do as well on their end. I see plenty of great early + midstream signs though (for example I read some mind blowingly good papers from my dad's old university IISc just a few months back), I am very optimistic.

IISC

I have a lot of time for those nerds. Lol

Cheers, Doc

 

[GeraltofRivia]

Thanks.

I would be particularly curious to learn how India has managed to attract talents back home, ones who have pursued foreign degrees. And upon their return, what are the govt. plans/programs put in place to get them a stable career. Any site/link I can read up?

I did check into what China does. They have something called a 'Thousand talent plan', under which they target to bring back 1000 Chinese students/year who study abroad on their govt. funding/scholarships and prepare placements for them in their field of specialization. Its impressive I must say.

There are some excellent discussions above. It mostly comes down to the economical situation in home country. Using China as an example, in the 90s for every 10 Chinese students went to study in US, only 1 would have returned and the rest would remain in US. This was totally understandable as the income difference between US and China was 100 times for them at that time plus there were better study and job opportunities. In the 00s, it would be about 3 out of 10 returning with a growing income level in China. It has become about 5:5 at the moment. Next decades would see majority of students returning to China simply because it can provide similar income (things are still cheaper which makes your earning run a lot further), better career opportunities and family considerations. Now I also start to see second generation Chinese migrants in my social circle going to China for work, simply for better pay and better career opportunity which we don’t see a lot before.

What I have described above are mortals like me. Now you have mentioned “Thousands Talent Plan”, which is not targeting mortals but the ones from Bell lab or other world class labs. They will be well paid, well housed, provided whatever equipment they need (like a collider or an observatory should it requires) and an opportunity to lead something that they can call their own. I guess you do need a State sponsored program like this but this is limited in scope and will not be effective without a more general inflow of talents.

Tbh, it is extremely difficult for developing countries to retain and attract talents simply because the economical gap is too largely and there is no motivation for them to stay. I don’t know there is a magical way. Funny that no development theory sufficiently considers this important trend. However It will gradually improve with the economy and a improved living standard/infrastructure/eco-system like what happened in China over the last 3 decades.

 

[anant_s]

If we wanted to get you back, what would we need?

Just my 2 cents sir, but having talked to a number of my batch mates from engineering class and almost 18 years down the line, i get a feeling that money isn't a factor (or a dominant factor atleast) when it comes to returning back to India from greener pastures we sought many years back as young graduates.
A lot of us feel that the kind of experience gained over the years might not be found wanted back in India even with our own silicon valley and topmost BPO industry or technical avenues available. Second is the cultural shock some of us expect our children to bear upon return back, not sure how true this is! (i could never muster courage to leave my father alone in India while moving my family out).

Apart from what @Nilgiri has explained quite elaborately in his post above, i believe one way of keeping talent back in India is nurturing of entrepreneurial spirit and startups intact. If people find system responsive enough for their ideas, i don't think many would want to leave country.
@bd_4_ever

 

[Joe Shearer]

Just my 2 cents sir, but having talked to a number of my batch mates from engineering class and almost 18 years down the line, i get a feeling that money isn't a factor (or a dominant factor atleast) when it comes to returning back to India from greener pastures we sought many years back as young graduates.
A lot of us feel that the kind of experience gained over the years might not be found wanted back in India even with our own silicon valley and topmost BPO industry or technical avenues available. Second is the cultural shock some of us expect our children to bear upon return back, not sure how true this is! (i could never muster courage to leave my father alone in India while moving my family out).

Apart from what @Nilgiri has explained quite elaborately in his post above, i believe one way of keeping talent back in India is nurturing of entrepreneurial spirit and startups intact. If people find system responsive enough for their ideas, i don't think many would want to leave country.
@bd_4_ever

Actually, this is best answered by @Nilgiri, as I have never stayed abroad for more than a year or two. I hope he writes in response. I am back home in a couple of hours (around 7:30/8:00) and will certainly think of what to say to your question at that time.

 

[bd_4_ever]

There are some excellent discussions above. It mostly comes down to the economical situation in home country. Using China as an example, in the 90s for every 10 Chinese students went to study in US, only 1 would have returned and the rest would remain in US. This was totally understandable as the income difference between US and China was 100 times for them at that time plus there were better study and job opportunities. In the 00s, it would be about 3 out of 10 returning with a growing income level in China. It has become about 5:5 at the moment. Next decades would see majority of students returning to China simply because it can provide similar income (things are still cheaper which makes your earning run a lot further), better career opportunities and family considerations. Now I also start to see second generation Chinese migrants in my social circle going to China for work, simply for better pay and better career opportunity which we don’t see a lot before.

What I have described above are mortals like me. Now you have mentioned “Thousands Talent Plan”, which is not targeting mortals but the ones from Bell lab or other world class labs. They will be well paid, well housed, provided whatever equipment they need (like a collider or an observatory should it requires) and an opportunity to lead something that they can call their own. I guess you do need a State sponsored program like this but this is limited in scope and will not be effective without a more general inflow of talents.

Tbh, it is extremely difficult for developing countries to retain and attract talents simply because the economical gap is too largely and there is no motivation for them to stay. I don’t know there is a magical way. Funny that no development theory sufficiently considers this important trend. However It will gradually improve with the economy and a improved living standard/infrastructure/eco-system like what happened in China over the last 3 decades.

Mere mortal human here too!

But you do have a solid point and I believe that countries like Bangladesh will have to play the time game too. Wait till the economy gets better with enough cash so that govt. can finance students who are returning with all that they need to succeed in their career. Having studied in the Middle East, Sweden and Switzerland, I have personally seen many Bangladeshis go back home. Reasons were diverse. So I think the inherent willingness to return is there, the administration needs to just have a system to put it to good use.

Just my 2 cents sir, but having talked to a number of my batch mates from engineering class and almost 18 years down the line, i get a feeling that money isn't a factor (or a dominant factor atleast) when it comes to returning back to India from greener pastures we sought many years back as young graduates.
A lot of us feel that the kind of experience gained over the years might not be found wanted back in India even with our own silicon valley and topmost BPO industry or technical avenues available. Second is the cultural shock some of us expect our children to bear upon return back, not sure how true this is! (i could never muster courage to leave my father alone in India while moving my family out).

Apart from what @Nilgiri has explained quite elaborately in his post above, i believe one way of keeping talent back in India is nurturing of entrepreneurial spirit and startups intact. If people find system responsive enough for their ideas, i don't think many would want to leave country.
@bd_4_ever

Good points and we do have similarities in the sense that our startup ecosystem have been buzzing too. Although we have pretty long way to go in doing business ratings, but initiatives have been taken in order improve. Only challenge I see if societal pressure against starting your own business. Usually desi families prefer students taking up a stable job against anything 'temporary'.

 

[Nilgiri]

Apart from what @Nilgiri has explained quite elaborately in his post above, i believe one way of keeping talent back in India is nurturing of entrepreneurial spirit and startups intact. If people find system responsive enough for their ideas, i don't think many would want to leave country.

Definitely I would agree. Every year its getting better overall. I think 2020 onwards is when India starts to really hit its stride on the matter.

The things that my dad complained about (like not even being able to order office stationary without a ton of paperwork to fill out) when he worked at a quite well known PSU back in the 80s (that eventually he could not cope with as it was majorly denting his potential and morale) back around the time he married my mom and I was born a bit later etc...are really bygone era now. There was no such thing as "start up" back then and the full weight of license raj was still imposing itself on the entrepreneurial spirit (so much so that only basic stuff could really exist in entrepreneurial way around the seams of that edifice). Hence when he got the opportunity to work for a huge electronics/comms MNC (who were hitting their stride in HK which was an "original" asian tiger back then)...he took it (it helped he had large extended family that would take care of my grandparents etc...and he would help them back financially etc)....of course it was not such an easy decision....but it was one that shaped who I was from very early age (mom and I stayed back for a while in India, but eventually when my dad was settled in we joined him...I was just 3 years old). This is why from young age, I have always had a good appreciation from my dad as to the importance of basic economic freedom so talents can flourish freely and potentials reached without hindrance etc.

But India has vastly changed...and I am in good touch with talented people that return and talented people that stay there (among friends, family, social network etc) on what their varied experiences are with both attitude/demeanour in all kind of companies (new and old). You are right that better and deeper reforms w.r.t business environment are very key approach India must keep following...it has denied itself (after being denied by others in control of it) of this important process (that comes naturally to it being the irony) for too long in its modern history....so I am glad there is a sea change now in the right direction. Long may it sustain and grow.

 

[GeraltofRivia]

Just my 2 cents sir, but having talked to a number of my batch mates from engineering class and almost 18 years down the line, i get a feeling that money isn't a factor (or a dominant factor atleast) when it comes to returning back to India from greener pastures we sought many years back as young graduates.
A lot of us feel that the kind of experience gained over the years might not be found wanted back in India even with our own silicon valley and topmost BPO industry or technical avenues available. Second is the cultural shock some of us expect our children to bear upon return back, not sure how true this is! (i could never muster courage to leave my father alone in India while moving my family out).

Apart from what @Nilgiri has explained quite elaborately in his post above, i believe one way of keeping talent back in India is nurturing of entrepreneurial spirit and startups intact. If people find system responsive enough for their ideas, i don't think many would want to leave country.
@bd_4_ever

Yes cultural shock is common for the second generation migrants/kids going back to the home land. This is understandable given they have been raised in a completely different country and shares no commonality with home country. One interesting trend that has become increasingly common is that Chinese expat started to send them children back to China to attend summer school or full term study while they remain working overseas. I don't know whether this means they are also considering moving back but at least it is something in the back of mind.