INDIA
Relocation thriving India’s business, economic and political environment is already resulting in something of a relocation boom. Aakanksha Bhargava, CEO and president of PM Relocations,
which has offices throughout India, says, “The Indian mobility industry is estimated to have grown at least 60 per cent in the past five years, thanks to the influx of expatriates from different countries and the resulting need for customised professional services for personal movements. “Significant transformation can be noticed with the making
of 100 Smart Cities by 2022, an exponential growth in start-ups, and the incoming of foreign investment in start-ups.” Based in New Delhi, Formula Group, winner of the 2015/16
Re:locate Destination Services Provider of the Year award (see p49) provides relocation and immigration services for corporates and relocation management companies across India. MD Raman Narula says, “The government’s Make in India
campaign has had an immensely positive effect on driving investment into India. As a result, there is an increase in inbound relocation, as more and more companies launch or expand their projects.” Rohini Manian, VP of Global Adjustments, a destination
services and cross-cultural training company headquartered in Chennai, South India, and with offices in Mumbai, Delhi, Bangalore and five other locations, agrees with Mr Narula about the importance of Make in India. “Alongside the establishment of a single window for easy
paperwork and permits,” she says, “Make in India has led to an increase in foreign direct investment by 30 per cent over the previous year. The cost arbitrage continues, while the
opportunity to have an intellectually agile, English-speaking workforce drives Fortune 500 companies to increase their India footprint.” Ajit Venkatesh, director of Globe Moving, a relocation and
moving company that has operated in India for more than 40 years, feels that companies are waiting and watching the direction the government is taking. He says, “Corporates are committed, and are moving into India slowly but surely. India wishes to be a major manufacturing hub in the next ten years, so a lot will happen in that space.”
Industry sectors Which sectors are currently seeing most activity in terms of corporate moves/relocations? “Analysing the top ten companies served by Global Adjustments,
which account for 52.73 per cent of our total population, we find that automobile manufacturers and financial services providers are the main types of company that relocate employees into India,” Rohini Manian says. “Oil, gas and petroleum companies are also increasing their operations here. “Knowledge transfer being crucial in these industries, expatriate
specialists come with the goal of training Indian professionals to succeed them in leadership and mid-level roles. This aids their companies’ global business strategies.” Formula India’s experience is similar, Raman Narula says,
adding that the defence sector, too, is seeing significant activity in inbound corporate moves, while the IT sector is leading the way in outbound relocations, moving software engineers to Europe and the US. ➲
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