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23 Sep, 2010 17:30

Top American graduates heading to India for jobs

The International Monetary Fund predicts that within the next year the US economy will shrink, while the Indian economy will grow almost 5.5 percent.

Because of this many top graduates are finding that they are able to land more rewarding work in India than in their own country.

"There's definitely a sense of excitement here. Things are looking up for India. Even throughout this recession things have remained positive here and you can't really say the same things about the states," said Colin Murphy, a Yale University student who is spending the summer working at Infosys Technologies in India.

Infosys, an IT outsourcing giant based in Bangalore, India is one of many Indian companies courting America's top talent. The company recruits almost 100 of the best and brightest from the United States to its campus every summer to teach Americans more about what India has to offer.

"We have students from Stanford, we have students from Harvard, we have students from MIT….They get to understand what is Infosys and what is the IT industry. And since most of the internships are based in India, what is India, and part of that is just about breaking myths and misconceptions," said Brianna Dieter, one of the coordinators of InStep, Infosys' Global Internship program.

Infosys main campus is situated on 43 acres in the middle of the hustle and bustle of Bangalore, India – considered India's Silicon Valley and the center of India's IT boom. The isolated community offers a hint at the new and emerging India. The campus offers gourmet dining, 21st century architecture and environmentally friendly transportation.

"Wherever there are economic opportunities, people from all over the globe will congregate there and will get those opportunities and that’s what’s happening in Hina and India," said N.R. Narayana Murthy, founder of Infosys.

Most Americans who live in India, however, have to deal with the chaos, congestion and frequent power outages that come with a country that still has trouble with its infrastructure. Despite that, experts predict that by 2015 American companies will move 3.5 million jobs abroad, and many of those jobs will end up in India.

While Indian companies become more diverse, companies like Infosys are starting to see the effects of globalization on the ground.

"I think globalization is all about people from different nationalities coming together in pursuit of a common goal…This is all about leveraging the power of globalization. It's all about leveraging the power of the new economic order," Murthy said. 

Michael Parenti, author of “The Face of Imperialism”, said the US has been on a mission to make the world safe for American interests and businesses; however there is a global shift taking place.

Parenti agreed that there is a developing trend where Americans are leaving to find work elsewhere as unemployment rises in the US.

I can imagine many would look for job opportunities abroad if they presented themselves,” said Parenti.

Many global players have gotten tired of American superiority and have begun to take steps in their own independent directions, he argued.

Parenti said that employment is one of the top problems in America today.