The introduction of the new H1B Bill in the US allowing PhD holders to stay back and apply for a Green Card may be good for Indians as per mainstream media reports, but it certainly is not good for India. We are not patriotic when we report in this manner. Instead, we should be arguing for getting the best and brightest human capital to work for our progress.
Let us invoke Chaos theory and use the H1B crisis to disrupt our system to attract the talent back. Policymakers globally agree that the new knowledge economy requires more highly educated people with technical and professional skills. Doctoral education would be the best fuel for the knowledge economy acceleration, one we have neglected dearly and by which the US is leading the world. There is a clear correlation between human capital and economic progress as evidenced by numerous economies globally. Per capita gross domestic product growth has been the highest for countries with low natural resources but with high human capital. There are examples aplenty from South Korea to Israel.
I witnessed the plight of a father-son duo on Wednesday evening. The father wants the son to come back to India post his PhD at one of the top US universities but the son is adamant that India cannot fulfil his dreams, professionally, socially and economically. After consulting various experts, the father has the sense to see the son’s point of view.
via New H-1B: Good for Indians, not for India | Business Standard Column
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