The global economic slowdown has brought in its wake an interesting phenomenon – a considerable drop in the demand for passports. With Indian economy prospering and global tourism and travel turning attractive and cheaper, this is surprising. Many reasons are being attributed to this; the below-par performance of the IT sector, slow down in trade and discontinuance of the practice of engaging cheap Indian laborers.
Though Indian economy emerged relatively unscathed from the ravaging effects of recession, most major world economies such as the US and the Europe are yet to find their foothold in the post-recessive world. This had a direct impact on new recruitment from India, whether skilled, semi-skilled or unskilled. India’s status as a major manpower supplier to the world stands dented.
The IT spend in major economies nose-diving to levels unheard of, Indian IT companies too put a freeze on fresh recruitment or sending fresh recruits on assignments abroad. Moreover, recession-induced financial curbs and technological advancement prompted them to complete foreign projects with staff stationed in India.
The hotspot of migrant laborers, Kerala and Uttar Pradesh, too witnessed a dramatic turnaround in gold rush, especially to the Middle East, when the practice was put on hold by most world countries due to economic worries.
Another twist in the tale emerged when Indian economy started its dream run. With opportunities galore in India, it is only natural that countrymen abandoned their quest for coveted jobs in overseas job markets.
An external affairs ministry official said that this is not a recent phenomenon and the application for new passport has been going down in metros for the past few years. However, 2010 is witnessing a revival, with the tier-III cities and smaller towns turning into new hotspots.
