More Indians quitting homeland says Asian Development Bank

Last Updated: Wed, Oct 24, 2018 12:08 hrs
No more visa-on-arrival for Indians travelling to Hong Kong

Indians, Chinese and Bangladeshis top the nationality charts of migrants, says a report by Asian Development Bank.

The stock of International migrants comprises of individuals who have crossed borders for various reasons including employment, reuniting with family, study, and even moving from conflict zone and violence.

ADB the regional development bank in its latest 2018 report titled Asian Economic Integration Report says that one in every three international migrants is an Indian or a Chinese. This, inspite of number of Asian migrants moving to regional destinations within the continent declining marginally.

In 2017, the development bank found 17 million migrants from India, while PRC (People's Republic of China) contributed some 10 million and Bangladesh about 7.5 million.

There are more migrants coming from Asia- nearly one in every three is led by either India or China, even as the global stock of international migrants from Asia grew by 3.9% from 83.6 million in 2015 to 86.9 million in 2017, according to the report.

On the statistics for in-flows, the report observed that intraregional migrants into India came largely from neighbouring countries such as Bangladesh (3.1 million), Pakistan (1.1 million) and Nepal (0.5 million).

One of the reasons has been a constant inflow via Foreign Direct Investments (FDIs) which is reported to be stable at $517.5 billion in 2017 from $519.9 billion in 2016.

Asia as a whole saw a moderation in outflows and more investments were made regionally. Outward FDI by Asian economies moderated by 1.4% in 2017 to $ 487.9 billion from $ 494.9 billion in 2016. In fact, investments within Asia generated 667,000 jobs in 2017, majorly in India, PRC, Vietnam, Philippines, and Singapore—in real estate, software and information technology (IT) services, electronic components and especially in greenfield projects or new investments.

But of this, investors from emerging Asian economies doubled their outward investments, says the report. An example of this were investments in electronic components and rubber industries.