Overseas Indian Professional: 5 facts you wish you’d have known earlier
Dear Overseas Indian Professional,
What this article won’t do is add to the opinion dogpile out there on how Covid-19 has changed the world economy or what the changing immigration policies have in store, among other things.
Instead, Spottabl, as an integral part of the Indian Startup Ecosystem that’s democratizing the recruitment landscape, intends to give you a bird’s eye view of the evolving talent needs starting from 2019.
For many years now, Spottabl has provided hiring advisory and talent branding across hyper-growth companies including VC backed startups across multiple stages, and US corporations having Indian Operations. This has allowed us to understand their key drivers and barriers giving us unparalleled insights into what opportunities lie ahead for them and the industry as a whole.
So let’s dive into what are the 5 things that you wish you’d have known earlier about why returning to India ‘Now’ is actually good for your career
- 2019 was the Indian sweet spot for VCs
2019 added a third to the total count of 24 Indian Unicorns with north of $12B raised in capital, by over 760 companies. With an estimated over $4B in cash-out (via buybacks and acquisitions) for VCs in 2019, the increase in investor confidence has translated to India focused funds raising more than $2B to be deployed.
2. Investments aplenty and Jobs galore
Global VC firms including Tencent, Softbank, Tiger Global still have over $7B to deploy into the Indian ecosystem. The StartupIndia Government report pegs that these investments translated to roughly 60,000 new direct jobs and over 100,000 new indirect jobs. This is in addition to the investments made by global tech Decacorns, Unicorns, Soonicorns (Investors are betting big on over 16 Indian Soonicorns poised to make it to the unicorn list in 2020/21) and well-funded startups in expanding their Indian footprint.
3. 2020 as a see-saw of expectations
Even though 2020 has had one of the world’s worst pandemics with economies coming to grinding halt, Q1 2020 in India has already seen a total of $2.5B start-up investment handshakes come through. As to global companies, just among FAANG(Facebook, Amazon, Apple, Netflix, Google(Alphabet)), north of $6B awaits to be deployed for their Indian footprint expansion in 2020.
4. India leads ‘Tech-tonic’ shift to growth
Despite the current situation, India continues to lead the Global Services market with a natural segue in increased remote job hirings and opportunities. While these 4 sectors – Enterprise software and SaaS Tech, consumer tech, FinTech, EduTech and B2B commerce tech as a whole, saw an infusion of 75% of the total startup investments made in 2019, 18% of the startups funded, came from the deep-tech pool (IoT, AI/ML, AR/VR).
5. The fastest-growing destination for marquee talent and the next hotbed for innovation at scale
It is estimated that deep tech will continue to show at least 20% growth year on year – in the sheer number of new startups, contribution to the job market, and the maturity of the investments raised. These parallel drivers validate India as an ideal Product and Technovation destination with a clear growth trajectory for the tech industry.
A lot of companies in Emerging tech, Fintech, Edtech, Healthcare in startups, along with global enterprises have started forecasting and aggressively hiring – starting with key tech and product roles, with more to come in other disciplines and verticals.
We have witnessed how the hiring landscape has changed in the last 8 weeks with multiple new roles in Engineering, Business and Growth Marketing, and Functional roles across Lateral, Mid, and Senior levels that companies approach to help staff.
The reason we wanted to put these specs out there (hopefully as succinctly as possible) is to provide a quick overview of where the Indian ecosystem is poised to head, Covid-19 notwithstanding. The lockdown is not a stop but a pause – some sort of bitter forced course-correction to optimize offerings, product roadmaps, investment philosophies, and valuations. It will be business as usual, but with evolving adaptive normalcy benchmarks.
Spottabl provides a unique job search experience with an AI-powered talent branding platform. Companies leverage the power of our exclusive network of recruiters to better engage with talent and help fulfill their aspirational job needs.
If returning to India is something that you are planning to do, either as a forced function or you just want to continue to build/market/sell great tech, but closer to your near and dear ones, please feel free to register on Spottabl in the link below. We may have something for you already.
Registration Link – https://bit.ly/WantToBeHired
For references – https://bit.ly/ArticleReferences