Millionaires fleeing India in larger numbers: GWMR Report

A recent report by Global Wealth Migration Review (GWMR) suggests that Indians who have the means to quit the country are doing so in large numbers. The report indicates that a large number of Indian high-net-worth individuals (HNWIs) moved to USA, UAE, Canada, Australia and New Zealand.

According to the GWMR report, India saw the third highest outflow of wealthy individuals last year. Nearly 5,000 millionaires, or high-net-worth individuals (HNWIs), left the country, which is 2 per cent of the total number of HNWIs in India.

The UK for the last three decades was ranked among the countries with the highest number of inflow of wealthy individuals but the trend reversed sharply in the last two years, thanks to Brexit.

China topped the list, as its economy is starting to show the impact of the trade battle with the US.  Russia occupied the second spot, ahead of India, as the Russian economy grapples with the impact of multiple embargoes. 

The report forecasts a growth in large number of entrepreneurs in India attributable to, good educational system and English speaking workforce. A strong growth forecast in the local financial services, IT, business process outsourcing, real estate, healthcare and media sectors (10 year wealth growth forecast: 200%).

The report also pointed out another critical problem with the Indian economy of the degree of inequality growing at an alarming rate. The HNWIs hold nearly half the total wealth in the country.

The report highlights  Pune, Hyderabad, Bangalore, Mumbai, Delhi, Kolkata, among global cities to look out for in the next decade.   However, the report also went on to mention that the outflow of HNWIs from China and India is not “particularly concerning”

The outflows of HNWIs from these countries are not particularly concerning as they are still producing far more new HNWIs than they are losing. Also, once the standard of living in these countries improves, we expect several wealthy people to move back.

Links

 

H1-B Cap for 2019 reached, and Indian companies top visa rejections

Here are a couple of updates on H1B Visas that are of interest to applicants and companies

The USCIS announced that

“On April 5, 2019, USCIS reached the congressionally-mandated 65,000 H-1B visa regular cap for fiscal year 2020. USCIS will next determine if we have received a sufficient number of petitions to meet the 20,000 H-1B visa U.S. advanced degree exemption, known as the master’s cap.

USCIS will continue to accept and process petitions that are otherwise exempt from the cap. Petitions filed for current H-1B workers who have been counted previously against the cap, and who still retain their cap number, will also not be counted toward the FY 2020 H-1B cap.”

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According to a research report by CARE Ratings, the total number of H-1B applications approved to the top five IT majors — TCS, Infosys, HCL, Wipro and Tech Mahindra — stood at a mere 22,429, down from 43,957 in 2017, amid the rhetoric against immigrant workers by the Trump administration.

In FY18, a total of 331,098 H-1B petitions were approved and companies with the highest number of approvals were Cognizant Tech Solutions US Corp, TCS Ltd, Infosys Ltd, Deloitte Consulting LLP and Microsoft Corporation, which cumulatively received 33,576 approvals.  However, the number of approvals reduced by 11%, from 37,393 in FY14.

Out of the total awardees, 73% possess Bachelor’s degree and rest 27% have Master’s degree. The median salaries offered by companies in chart 2 were in the range of USD 75,000 to 131,000. 

A few key highlights from the report

  • Cognizant Tech Solutions witnessed 4,338 denials in FY18, the highest by any company. This was followed by TCS Ltd and Infosys Ltd. The top five companies were cumulatively denied 11,907 petitions, out of which 80% were of extension visas and rest 20% of initial visas.
  • Infosys with 26%, registered the highest number of H-1B visa denials among Indian IT majors, followed by HCL America Inc, TCS Ltd, Tech Mahindra Americas Inc and Wipro Ltd.

 

Also of interest Listing of top 100 H1B Visa Employers in the US in 2016-17

 

Ben & Jerry’s will help support “We Are Sikhs initiative”

Maintaining ethnic culture and identity is especially hard for those who migrate across continents. The “We Are Sikhs initiative” is attempting an outreach to educate American and Western public about the rich culture and heritage of Sikhs.

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Image from wearesikhs.org

The earliest Sikh immigrants to America were young men. Carrying the weight of hungry families on their shoulders, they braved the difficult journey by boat from the Punjab region of India to the states of Washington and California. Leaving villages ravaged by British exploitation, these pioneering Sikhs saw in America a nation that rewarded hard work. And work hard, they did. From 1903-1908, thousands of Sikh laborers toiled to build our nation’s roads and railways in Northern California. They laid 700 miles of roadway between Oakland and Salt Lake City, remaining today as part of Interstate 80. Wearesikhs

The National Sikh Campaign announced that Ben & Jerry’s has signed up to support “We Are Sikhs initiative” to educate the public about the contributions of Sikh Americans and the meaning of the turban.

Also find an extensive listing of Gurudwaras across America  and in Canada

Amid a record driver shortage, Indian-American Sikhs are taking to trucking

NPR ran an interesting feature on truck drivers from Punjab filling the void in American trucking industry.

The trucking industry is experiencing a major shortage of drivers. But in the last two years, one demographic has been gravitating towards the industry by the thousands: Indian-American Sikhs. It’s an attractive blue-collar job because it doesn’t interfere with articles of faith, like turbans or beards.

Listen to story on NPR  https://www.marketplace.org/2019/03/07/world/indian-american-sikh-truckers/popout

Also check out “Sikh Truckers in America”

Starting at 2 am, Pandher hopes to cover the 520-mile stretch in about 9 hours with recommended breaks to reach Lincoln before noon. The long journey through the night doesn’t bother Pandher who is used to such hauls. What does bother him though is the nights and weekends that his work takes him away from his family and little children.

“As truckers, we do miss quite a bit on their (kids) growing up. And that hurts more than the hard work. But that’s the price you pay to be a trucker,” says Pandher, wistfully.

Pandher, who started as a truck driver, running an intrastate hazmat in 2003, today owns the Laramie, Wyoming, based Akal Travel Center, which has 9 trucks, 13 tanker trailers and 4 truck stops in Wyoming, Nebraska and New Mexico. Pandher is among the thousands of Sikhs in the American trucking industry.

Nearly 71% of the freight tonnage on land moves on trucks. The American trucking industry forms the lifeline of the U.S. economy. According to the 2012 Survey of Business Owners by the U.S. Census Bureau, there were nearly 600,000 trucking companies with $300 billion in sales. The American Trucking Association estimates that 3.5 million truckers move 10.55 billion tons of freight annually.

 

 

Indian dentist murdered in Australia, ex-boyfriend dies in subsequent road accident

A 32-year old Indian woman, who was practicing as dental surgeon in Australia, was found murdered in her car in Sydney. Her ex-boyfriend, who is the prime suspect, is said to have died in a ‘deliberate’ road accident later.

The body of Preethi Reddy was stuffed in a suitcase and was kept in the car, which was parked roadside. Preethi’s body had multiple stab injuries. The ghastly murder  is believed to have taken place on Sunday considering the details of her last contact with the family members. The victim hailed from Mahbubnagar district in Telangana. She was working as dental surgeon at Glenbrook Dental Surgery, a hospital about 70 km from Sydney. Reports say that she left home for a medical conference at St Leonards on Sunday (March 3) but failed to return home till evening. Her sister, Nithya Reddy, lodged a complaint with the Sydney police. Her family and friends also opened a Facebook page seeking help to trace her. After the cops declared tracing the mortal remains of Preethi, Nithya posted on the page, “Our dearest Preethi is no longer with us”.

Preethi, according to reports, went to a hotel where her ex-boyfriend Harshwardhan Narde was staying. CCTV footage showed her going to a nearby fast food joint on George Street around 2:15 am and then proceeded to her car. She was last seen at a line in McDonalds in the wee hours, where she bought a water bottle. The South Wales police traced her car parked in a street in Eastern Sydney.

“Preethi’s vehicle was parked on Strachan Street, Kingsford, about 9:30 pm on Tuesday. During a search of the vehicle, the police located Preethi’s body in a suitcase. Further inquiries have established that Preethi stayed at a hotel on Market Street in Sydney on Sunday with a man known to her. Strike Force Carlwood investigators have since been notified that the man died in a head-on collision on the New England Highway near Willow Tree at about 10 pm on Monday. Detectives from Oxley Police Area Command are investigating the circumstances surrounding the collision, which is believed to be a deliberate act,” a South Wales police statement said.

Harshawardhan, 34, was found lying dead after a head on collision. The police suspect it to be a case of suicide by ramming his BMW into a truck. The car later caught fire, reports further said. Narde was also a dentist. They both attended the same conference on Sunday. It is suspected that Narda might have murdered Preethi at the hotel and managed to stuff the body in a suitcase and leave it in her car seven kilometers away.

Preethi’s family moved to Australia many years ago. Her father Narasimha Reddy teaches at Western Sydney University.

US Government makes changes to H1B visa applications; Advanced degree holders get top priority

The US Department of Homeland Security (DHS) announced a final rule for H1B visa applicants that will raise the probability of more US advanced degree holders filling the first wave of total available slots. This recalibration will filter out those with just bachelor’s degrees, making it harder for them to get an H1 Visa approval.

The DHS summary states:

This final rule amends Department of Homeland Security (“DHS” or “the Department”) regulations governing petitions filed on behalf of H-1B beneficiaries who may be counted toward the 65,000 visa cap established under the Immigration and Nationality Act (“H1B regular cap”) or beneficiaries with advanced degrees from U.S. institutions of higher education who are eligible for an exemption from the regular cap (“advanced degree exemption”).

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The Trump administrations’s rule goes into effect 1 April. In the current system, 65,000 visas are available in addition to 20,000 for those with advanced degrees from a U.S. institution. The annual lottery is scheduled for April generally starts with lottery for the advanced-degree holders first. The change is estimated to increase the number of advanced-degree holders selected in the lottery by 16 percent, or 5,340 workers each year, the USCIS said

US Citizenship and Immigration Services (USCIS) chief L. Francis Cissna was quoted saying “these simple and smart changes are a positive benefit for employers, the foreign workers they seek to employ, and the agency’s adjudicators, helping the H-1B visa program work better”.

“The new registration system, once implemented, will lower overall costs for employers and increase government efficiency. We are also furthering President Trump’s goal of improving our immigration system by making a simple adjustment to the H-1B cap selection process. As a result, U.S. employers seeking to employ foreign workers with a U.S. master’s or higher degree will have a greater chance of selection in the H-1B lottery in years of excess demand for new H-1B visas.”

There are several experts voicing concerns about this move. Cyrus D Mehta, founding partner of a New York based law firm told TOI,

“The skewing of H-1B visas towards those with master’s degrees from US institutions under the new selection methodology is in some senses counter to the H-1B law, which was to permit those with foreign degrees, and equivalent work experience, to qualify for H-1B classification. Hence, a foreign physician with a master’s degree in medicine from a foreign university who intends to provide critical medical services in a shortage area in the United States may have less chances of nabbing an H-1B visa under the new proposal.”
“Even a highly skilled IT worker with a bachelor’s degree in computer science from a reputed Indian institution such as the Indian Institute of Technology (IIT), will have less chance of getting an H-1B in the new proposal. Both the physician and the IT worker with foreign degrees have the potential of making contributions to the US in the same way, or even greater, as one who has recently graduated with an MBA from a US.

Others like feel that the move is a step in the right direction. Mohan K, an Enterprise Architect and a technology consultant says

“Foreign students pursuing advanced degrees in American Universities are likely to benefit from this move. Graduates of such programs are more likely get their H1 Visas approved and will stay back and contribute to the US economy.

While there will be some short term confusion, the move is likely to attract more students to American Universities.

However, students planning to pursue advanced degrees and PhDs in the US, should  will have to keep in mind that a rule like this is not ‘law,’ but a policy decision by the Trump administration. As a recent WSJ article indicates, the move may be challenged in the court or rolled-back by future administrations.

About H1B: The H-1B is a non-immigrant visa category in the United States under the Immigration & Nationality Act, section 101(a)(15)(H). It allows U.S. employers to seek temporary help from skilled foreigners who have the equivalent U.S. Bachelor’s Degree education. Link to a list of The list of Top 100 H-1B Employers in 2017

Air India To Charge 40% Less For Bringing Back Bodies From Gulf Countries

Death and dying is a topic we seldom give much thought to. And when we encounter untimely death of family or friends, we try and follow the rituals as dictated customs and mores dictated by the society. If a relative or a close one dies in a foreign country, the costs and paperwork associated with repatriation can make a terrible event even worse.

The logistics of Death gets magnified when the person in question dies in a foreign land. For instance, when a death occurs in Abu Dhabi, or the middle-east, the family might opt to have the funeral and last rites in India, their home country. This requires jumping through bureaucratic and logistical hooops to ensure the body can be transported across international boundaries. Here’s a link to an article on GaramChai.com that briefly describes the process.

Besides the logistics and paperwork required to transport bodies, families of the bereaved have to budget for the cost of embalming, storage and Air-transport of the bodies that can amount to a sizable sum of money.

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image source: India Today via google

Now comes news that the Indian national Airliner, Air India will Charge 40% Less For Bringing Back Bodies From Gulf Countries. According to a PTI news release

In order to reduce the expenses of grieving families in bringing back dead bodies from gulf nations, Air India has decided to reduce prices by 40%.

“After discussions with the Ministry of External Affairs and the Ministry of Civil Aviation, we have decided that we will be charging a ”flat rate” to bring back dead bodies from six Gulf countries…This flat rate would be 40 per cent lower than what is usually charged,” a senior Air India official said on Monday.

He added that this “flat rate services” for bringing a body back would currently be available for six Gulf countries–United Arab Emirates, Saudi Arabia, Qatar, Bahrain, Oman and Kuwait.

COMMENT

Google Doodle – Sake Dean Mahomed – The most notable early non-European immigrants to the Western World

Google today features a doodle on  Sake Dean Mahomed

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Turns out “Sake Dean Mahomed was an Anglo-Indian traveller, surgeon and entrepreneur who was one of the most notable early non-European immigrants to the Western World. He introduced Indian cuisine and shampoo baths to Europe, where he offered therapeutic massage. He was also the first Indian to publish a book in English!” (Wikipedia)

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BBC – Beyond the Broadcastran an interesting feature “Brighton, or Brighthelmstone as it was then known, was a developing resort in the 1770s and ’80s when an Indian, Sake Dean Mahomed, arrived to open Mahomed’s Indian Vapour Baths on the seafront, on the site of what is now the Queen’s Hotel. These were Turkish baths in which clients were put in a flannel tent and massaged by someone who poked their arms through slits in the flannel walls. Mahomed was known as a ‘shampooing surgeon’ – shampooing referred not, in the modern sense, to washing the hair, but to massaging the body during a vapour bath”

Gay Desi Pharmacist accused of murdering wife was having affairs on Grindr, court hears

A while ago there were news accounts of a 37 year old Desi Pharmacist Mitesh Patel, who was accused of killing his wife wife Jessica. They lived in a large Victorian home in the leafy suburb of Linthorpe, Middlesbrough in England.

Mitesh Patel, 37, is accused of killing wife Jessica (pictured)

According to court reports, the desi Pharmacist who was accused of murdering wife was having affairs with other men on social media site Grindr

 

News accounts of the developing story

Tulsi Gabbard’s Diwali Greeting comes while White House breaks tradition in 2018

Tulsi Gabbard is an American politician of the Democratic Party serving as the U.S. Representative for Hawaii’s 2nd congressional district since 2013. Ms Gabbard is a key Hindu-American in the US Congress ! Here is her  Diwali Greeting 2018

Ms. Gabbard’s greeting comes after the recent announcement that White House breaks tradition of Diwali celebrations amid midterms

According to an IANS report

US President Donald Trump broke a 15-year tradition of holding formal Diwali celebrations at the White House this year with the festival falling amid the crucial midterm polls.

The Diwali celebration was started by former President George W. Bush in 2003 and was carried on by his successor Barack Obama.

Continuing the tradition, Trump held the celebration at the Oval Office, where he lit a traditional lamp last year.

This year, however, he is caught up in the elections, which took place on Tuesday after a whirlwind of campaigning that ended on Monday.

On Wednesday, he will be tied up dealing with the aftermath of the elections, which saw his Republican Party lose control of the House of Representatives, the lower chamber of Congress.

Secretary of State Mike Pompeo in his Diwali greeting issued on Wednesday hailed the contributions of Indian Americans.

“As those celebrating decorate their homes with vibrant lights, I would also like to recognize the achievements of our friends in the United States observing Diwali who make important contributions to our country on a daily basis,” said in his message. – IANS

Also of interest: