Friday, April 04, 2014

How about ‘Relocating’ to India? Am I making the right decision?

Relocating to India may be an exciting thought to many of you who have been away from your extended family and home country. With promising headlines heralded over the news, it may seem all the more promising to make that move now. However, this decision does not just involve your impulsive mood but other factors which need to be a part of your decision making process.
The Options Executive Search (OES) team has identified a few key areas which need to be evaluated before making that international move.

Purpose of movement

That moment, when returning trends and moves made by peers, meet your impulse, you would experience a surge to discover job opportunities in India and migrate back to your home country. But then, pause for a moment. Is this an impulsive decision or do you really want to migrate?

We have recognized that such decisions are either driven by rational or emotional stimuli. Neither of them promise anything as long as they are made into logical and thought through decisions. This requires you to assess the context of ‘what is in it for you?’ of moving back to India.

Here is a chart that provides a list of crucial factors that need to be weighed while you decide upon moving back. Ensure that you include the needs of your family, career and your Self while making this move.

Indian context has changed drastically over the years and you may be astonished to know more than what you have read in the newspaper and rss feeds when you hear it from someone who is actually living in India.

Changing Indian landscape

Lifestyle and living: You need to be prepared to face the shift in lifestyle. Irrespective of world class healthcare and increased access to international education standards, you need to create a world of your own that is closest in resemblance to your current lifestyle. Locality of your residence, schooling, housing and medical facilities are some aspects that need to be discussed with your family. While you are at work, your family will experience and will have to interact the most with this part of the environment.

Culture: Many years of acceptance to the western style of living and thinking may create trouble when you have to settle back in India. Dressing, festival, societal norms are way different from what you had all these years. Traffic and neighborhood culture could be appealing or shocking in this land of extremities.

While you settle down with the Indian lifestyle and culture, you need to orient yourself to the tax structure, social security schemes and investment avenues. Most of all, we will throw some light on the salary structuring and income considerations as per Indian standards.

The Indian Income Tax Act, classifies income being sourced from salaries, house property, business profits and gains, capital gains and income from other sources. The flowchart below sourced from Overseas Indian Facilitation Center (OIFC) provides a snapshot of how salary is structured in India.

Having lived in a foreign country for many years and having climbed up the arduous career ladder, you will be waiting for that winning moment to settle back in your homeland. To evaluate how smart or not this plunge is you can get in touch with Mr.Achyut Menon at <> and discuss further about your professional career building opportunities and the road ahead.

No comments: