These professionals will be required to address the demand for language-sensitive work that can potentially be offered to Europe and the Far East – if India doesn’t start speaking the right languages that is. The languages in demand are French, German, Spanish, Italian, Dutch, Russian, Japanese, Korean and even Mandarin.
The Evalueserve study estimates that the total address market in India for language-sensitive work will be worth $14.4 billion by 2010. This growing demand for language-sensitive work will have a great impact on the Indian economy as it is expected to create a multiplier effect in the job market for Indians. According to the report, only around 40,000 Indians with foreign language specialization will qualify to meet this requirement.
Foreign language professionals are needed by the IT and offshoring industry primarily for jobs involving information, working on foreign voice-based tasks, training, transaction and migration process, quality management and other document inputs.
Since India has a shortfall in this sector, foreigners are being hired instead. Mohit Srivastava, AVP of Evalueserve, explains “There are several French and German speaking professionals, mostly in their early twenties armed with business and technical degrees, coming to work in India on short to medium-term employment contracts.”
The factors that draw foreign professionals to take up assignments in India are not just exciting compensation packages but also a comfortable lifestyle and multiple growth options. “Exposure to a fast-growing business economy is probably the biggest incentive and reason why young professionals are taking up job offers in the Indian IT and offshoring industry.” says Marc Vollenweider, CEO Evalueserve, adding that, “This huge potential will be lost if the working environment is not made conducive for foreigners coming to India. Immigration norms need to be considerably softened.”
