India's migration opportunity

MGI estimates that migrants contributed around $6.7 trillion, or 9.4% of the global GDP, in 2015

The term “brain drain” is a misnomer in India. Indians who seek their fortunes outside their home country are an economic force to be reckoned with, and a substantial future opportunity. There are around 16 million of them, making India the world’s leading country of origin. The McKinsey Global Institute (MGI) estimates that Indian migrants generate a staggering $430-$490 billion of GDP in the countries in which they live and work. They also send more remittances home than any other country’s migrants. At $65 billion in 2016, remittances are 3 per cent of the national GDP — more than the