Role of Migration

Overall Rating: star ratingstar ratingstar ratingstar ratingstar rating[5/5]Total Votes [ 4 ]  
Rate this page:
Globalization, or more precisely financial globalization has revolutionized the global economy. It has not just expanded employment opportunities in the international level, but also opened the door of free mobilization of both the skilled and unskilled labor. Here comes the role of migration. Plenty of new job opportunities are being generated every new day in the developed countries for their technological advancements, and for growing industrialization. And the developing countries are mostly catering to the needs for skilled labor of these developed countries.

Developing Countries and Role of Migration

Migration basically means labor mobilization from one country to the other. Migration of labor is an inevitable part of globalization and in the perspective of global economy it has great importance. Especially, the role of migration is extremely crucial to the economic growth for the developing countries. In fact, free labor mobility is considered among the most critical problems for these nations. It is commonly seen that to uplift the economic conditions and standard of living, citizens of under-developed countries migrate to the developed countries, and in many cases the entire process takes place without any legal paper, which is a matter of real concern. This not only affects the economy of the country, but also creates an impact on the population and law and order system of that particular host country. Moreover, instead of having a strong economy, it shows less per capita income.

Demand of Skilled Laborer and Role of Migration

The economic globalization has made it quite obvious for most of the counties to reform their political and economic system, and consequently the demand of information and knowledge has increased. To shape the economy of the country, skilled labor force is important and in this context, the role of migration is undeniable. Advancements in the communications and technology sector have greatly increased the requirements of the skilled workforce. Irrespective of political boundary, there is high demand of the workforce with scientific knowledge, technical knowledge, ideas and innovative skills.

Benefits of migration

In the perspective of financial globalization, migration has great impact on economy of a country. First of all, migration of skilled labor has enhanced the production and reinforced the economy for both the developed and developing countries. It also leads to proper utilization of brain, skill and talent. Along with boosting up the per capita income, migration of skilled labor is also raising the gross domestic product of the host country. Proper utilization of human resources is speeding up innovation and ensuring a more developed world. It also increases the remittals to the underdeveloped and developing countries.

Impact of Migration on India

India is not just a developing country, but also a major resource of skilled labor. Being one of the prime information superpowers, it has been offering the maximum number of trained and expert workforce to the information technology enabled service companies, information technology based companies, and software based companies worldwide. According to the recent trend, it is quite evident that the day is not too far when India and China would be the only source for satisfying the needs of trained professionals in the domain of information technology, telecom sector, industrial sector, electronic sector, and more. As a result, within just a couple of decades, there will be huge impact of migration on India, and it will be one of the top economic superpowers in the world.