India loses $80 billion in foreign exchange due to students choosing to study abroad

Apart from the brain drain with most of the good students in the general category preferring to go abroad, the majority of those who study abroad do not want to come back because of corruption in the retail trade, unlike in India , is much less present in Western countries.

Corruption in the retail trade consists of bribing to obtain mundane things such as connection to electricity or water, driver’s license, registration of the sale and purchase of apartments, land , etc These are usually done without paying a bribe in Western countries, which makes life easier.

In India, retail corruption is so endemic despite digitization and it starts as soon as you get the birth certificate let alone other things.

The local, state and central administration is so corrupt that a global study has pointed out that the equivalent of 600 billion dollars is lost in such corruption in India. Some may call it quick money. It is not a small sum.

Decay is more endemic in the education system. Correcting this malice is almost impossible.

One of India’s finest management minds, Professor R Vaidyanathan of IIM Bangalore, said in a recent interview that the rot in the education system is now virtually irreversible due to political patronage.

(API Service)

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