from daijiworld's special correspondent

Panaji, Apr 17: It's a big U-turn for the global Indian professionals, who, according to the heads of leading HR consultancies around the world, are making their way back to motherland thanks to the booming Indian economy.

"For the past five decades, India's best and brightest were lured by the glamour of the west. Today, a growing number of global managers are attracted by exciting professional opportunities being presented by India, the second fastest growing large economy of the world," Tom Fuller, managing director, US-based Espen Fuller, said.

Various global executive search firm representatives had gathered in South Goa during their two day long IMD summer meet Goa 2007, an annual convention jointly organised by IMD international search and consulting, an consortium of leading HR consulting firms, and Mumbai-based INX Global executive search firm.

The IMD, presenting its estimate during the convention, stated that in key services sectors such as Information technology and IT enabled services, India needs 2.3 million professionals -- 0.8 million for IT and 1.4 million for BPOs -- by 2010. This, according to them, would further fuel the demand for globally competent management professionals.

"India needs over 1,000 Chief executive officers across industries, many of them in new industry sectors such as special economic zones, aviation, airport management and retail," Peter Mukerjea, director, INX Global Executive search firm, told reporters at the backdrop of the conference.

Mukharjea, former chief executive of Star India,said that this homecoming trend began with Information technology which later diversified in almost all sectors including travels, tourism, financial products, BPOs, motorcar industry, telecom, retail, farming, health care besides other. "The trend will continue as long as country's economy continues to grow," he said.

The INX director, citing indian market's dynamics, said that Indian economy need not worry of stagnation. "There is a huge potential for economy to grow," he said.

Mukharjea said that during last five years, the trend of professionals homecoming is growing at hundred per cent which is coupled with the foreign companies setting up their shops in India. With an advantage of being English speaking country, India is expected to grow further, he said.

On government's role, the experts, during the convention, praised the central government for acting as a facilitator to become Indian companies become a global players.