Finland is eager to attract Indian talent and students in order to increase the number of skilled migrants and supplement its rapidly ageing workforce, according to Tuula Haatainen, Finland's Minister of Employment. In an effort to accelerate this process, both countries announced their intention to form a migration and mobility alliance.
Finland seeks to attract Indian ICT, healthcare, and provider specialists, according to Minister Haatainen. Nurses are a specific focus for Finland in terms of healthcare staff. Furthermore, the country hopes to increase its intake of international students in the next years in order to supplement its rapidly dwindling working-age population.
Minister Haatainen was accompanied by a group of recruitment firms and colleges in her efforts to entice Indian talent to her country.
Helsinki is on the verge of a severe ageing crisis. The proportion of dependents in the country relative to working-age inhabitants is expected to climb dramatically, causing severe financial upheaval if not addressed. Finland is attempting to build a migration and mobility collaboration with India in order to attract talent.
Both parties will now begin negotiations, but no timeframe for signing the agreement has been set. Other countries of interest include Brazil, Turkey, and Vietnam. Finland, according to Minister Haatainen, is home to approximately 15,000 Indian professionals and 1,300 college students.
In recent years, the country has embarked on a series of legislative reforms in an effort to attract Indian workers and students. Haatainen has gained legislation to alter visa norms for college students by giving them visas for the duration of their studies.
Furthermore, college students have been given two years after beginning their studies to find work. These measures, together with Finland's low cost of education, constitute the foundation of the country's effort to retain Indian talent.
Haatainen also stated the prospect that enhanced migration and mobility will increase anaemic ranges of commerce between each international location. "The total direct trade between the two states is in the region of EUR 1.5-2 billion per year, nearly evenly divided between items and suppliers," according to the Finnish Embassy in India. IT and digital services account for a significant portion of India's exports to Finland. However, FDI flows from Finland to India remain insignificant.
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Source: Live Mint