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India, as a country, has created quite a reputation for itself when it comes to technical resources. Given the excellent penetration of the internet, the adaptability of the workforce, and the zeal to do better, the country has been producing top notch developers every year. It is not for nothing that the average intellectual export of the country to the western world has seen a meteoric rise over the past decade. If we look at the stats, then the number of Indians pursuing either a Master’s or working offshore in the US and UK combined touched a percentage of 44% in 2020.
The types of profiles that an average Indian can obtain in these countries and, of course, the better earning and growth prospects, further fuel this alleged export.
The COVID-19 pandemic changed the working dynamics significantly. As is in nature, Indians were quick to adapt to working from home or in remote working environments. Multiple Indian firms saw an increase in productivity and profitability when the workforce worked from home, and that too at a time when the world was in a general glum phase.
These factors, along with a couple of other factors, resulted in several international firms looking at the Indian market for hiring remote software developers. In this blog, we will examine some key factors that resulted in a spike in the sentiment to hire remote developers in India.
It goes without saying that the Indian education system puts a lot of emphasis on getting skilled and getting a good job. One may attribute this factor to the fact that India is still a developing nation with cut-throat competition for resources and an equally strong zeal to excel. Parallely, the Indian Government has also been focusing on promoting technical education in the country by setting up several flagship institutes, such as the IITs and NITs. Other than these as well, there are several Tier-1 and 2 colleges that produce lakhs of trained software engineers and developers every year.
In addition to all this, there are multiple governmental, non-governmental, and private programs that boost the overall developmental skills and employability of the resources. Surviving in such a cut-throat environment required in-depth knowledge and continued upgradation, both of which make Indian developers much sought after.
While this was all about the freshers, India’s indigenous IT industry itself is fairly strong. In-depth work is being done in the fields of Artificial Intelligence, Machine Learning, RPA, and whatnot. Thus, the average Indian developer needs to upgrade their knowledge from time to time to bolster their career prospects.
Software development, as we all know, is not just about having the skill but also about creativity and an eye for detail. With the exposure that an average Indian developer gets, it makes sense why one should hire remote developers in India.
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It is an established fact that outsourcing IT projects can help save huge sums of money for almost all development projects. While doing the same within the country may not make as much of a difference, the costs can be cut significantly if one has to hire remote developers in India. Take, for instance, the hourly rate for mid-level software programmers in the United States. The rate varies between $140 and $170. Against this, the hourly rate for mid-level Indian Software developers is barely $40. While this rate fluctuates depending on the specialization that is required, it has never gone above $60, which is still way less than what one would pay to developers in the US.
Add to this the concept of EOR, whereby the firm can hire an agency that does the entire employee management and documentation. We at Wisemonk, for instance, do that and ensure that not only are experienced professionals hired, but all the documentation, retention, and replacement (should the need be) are taken care of. Going through an EOR partner helps in saving not just the hiring and training costs, but also all the money that one would have had to spend on compliance and legalities.
It is fairly common for people in India to get hired to work US and UK shifts. Depending on the time zones that are being followed, the time difference can range anywhere from 9.5 hours to 12.5 hours. This time gap can be utilized to deliver round-the-clock support. While we are talking development here, it is because of this time gap only that multiple US and UK-based MNCs have their call centers in India to offer 24/7 services.
The Indian government has been pushing the agenda for making in India and hiring Indian resources significantly. The country is currently the seventh-largest recipient of FDI. Almost all the Indian regulations and regulatory frameworks have been created with the intent of encouraging international IT development projects. Several SEZs have been set up, policies have been formulated to expand the markets, and policies have been enacted to promote the commercialization of the services and ensure sustainable IP growth.
One of the biggest factors that puts Indian developers ahead of other South Asian developers is their proficiency in English. India is a land of multiple cultures, multiple languages, and even more dialects. Fortunately or unfortunately, English has been the unifying language for many. Hence, knowing English and being proficient in it is something that is pursued right from the beginning. This makes the choice to hire remote developers in India an even easier one to make.
With Wisemonk’s EOR services, we guarantee a seamless, automated prochttps://www.wisemonk.io/blogs/how-to-find-the-right-remote-engineers-for-full-time-long-term-roles-in-indiaess that allows you to hire in India in complete compliance with Indian laws and policies. Some major benefits at offer include:
