China Made Mistake of Ignoring Indian Talent
Chinese official media said on Friday as China has made a “mistake of ignoring” science and technology experts from India, underlining that the Communist giant should attract high-tech Indian talent for maintaining its innovation ability.
An article in state-run Global Times said, “China has made the mistake of ignoring Indian talent and instead has attached greater importance to talent coming from the US and Europe.”
“China has conceivably has not been working hard enough to attract science and technology talent from India to work in the country.” The daily tabloid from the ruling group Communist Party of China which has been publishing articles critical of India all most on a daily basis has said in a rare positive write-up in recent months.
In the article, it has been said as “Over the past few years, China witnessed an unprecedented boom in tech jobs as the country became an attractive destination for foreign research and development centers.”
It also said as “However, now some high-tech firms are turning their attention from China to India due to the latter’s relatively low labor costs. Attracting high-tech talent of Indians could be one of China’s options for maintaining its innovation ability.”
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Referring to a report released has mentioned that US-based software firm CA Technologies has disbanded its 300 people from research and development unit in China. On setting up a team in India with some 2000 scientific and technical professionals over the past few years, it said, “with a sufficient young talent pool, India was becoming increasingly attractive.”
The report stated that China cannot afford to risk a drop in its attractiveness for the high-tech investors. The nation is the third echelon in the cutting-edge technology fields and is working to catch up with the US, and the result of its efforts will decide whether China will maintain its status as an emerging global economic power.
In recent year China has boosted the budget for technological innovation by allocating billion dollars of incentives for start-ups and research firms as it witnessed the decline of its labor force due to a rapid increase in old age population.
China has also carried out a lot of measures to enhance its innovation capability by including research spending and creating a favorable investment environment for high-tech firms. The article has said that however, one issue has become increasingly prominent. The talent pool in China is not vast and flexible enough to meet demand for the rapid expansion of innovation capability.
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It also said, “In Silicon Valley, a considerable number of software developers working there were born outside the US. China should also strive to invite more foreign talent into the country as it aims in building itself with a world-class research hub.”
In 2016, a total of 1576 foreigners were granted Chinese permanent residence registering an increase of 163 percent from the previous year. It seems that China was aware of the importance of tapping into international talent. Some reports have claimed that the cost of employing an Indian engineer was just half the cost of hiring a Chinese engineer, which means that Indians could earn more than double revenue if they came to work in China.
Some enterprises in Southwest China’s Guizhou Province provides more convenience to Indian talent regarding transportation, housing, and insurance and could enjoy a much better standard of living in Guizhou cities than in Bangalore.