This news is really disturbing that the biggest victims of jobs going to big tech companies in America are Indians living there. Incidentally, it also makes sense that the people of the country who have maximum participation in this industry, when the crisis comes, they will be most affected. However, a report states that major tech companies like Google, Facebook, etc. have laid off about two lakh employees, more than 80,000 of whom are Indians. These Indians had gone on such a visa, which would require them to leave America within 60 days if they do not have a job. It is clear that most of them will soon have to return to India. After all, at a time when jobs are declining and the US economy is more likely to slip into recession this year, the room for new jobs is minimal. The sudden loss of job will shake his entire family life.
However, this is an inherent risk inherent in a globalized economy. In a country like India, which has neglected manufacturing and high-tech research and development, the expectation of finding employment for its skilled workforce is tied to developed countries. They must bear the brunt of the situation in those countries. The alternative is for India to restructure its economy in such a way that it becomes less dependent on the export of services. In addition, along with research and development, a network of modern industries and companies should also be spread in the country. The lack of this effort has resulted in a steady decline in the competitiveness of Indian companies, which has forced India to turn its back on multilateral free trade agreements in recent years. Prime Minister Narendra Modi often gives the mantra of turning disaster into opportunity. So now the situation created in America is another one of those opportunities that their government can take a chance on if they want to. But so far the government has been realistic, the expectation that this will happen is not strong.