Risk management in India

 The educated Indian is the biggest asset for the country. As globalization opens doors, Indians are making their presence felf throughout the globe. The remittances of Indian professionals , termed as invisibles in the Balance of Payment accounts provide strength to the current account. The workforce is far more diversified and earns much more in per capita terms as skilled professionals move out of India to work. With the advanced world ageing, there is a demographic dividend that awaits India along with other countries like China who have young skilled workforce. Anticipating the global corporate trends, the emerging requirement in skills, the Indian academic institutions can play a major role to prepare the young generation for a better tomorrow. Risk management in India is a highly skilled profession with acute demand supply mismatches. As Indian primary and secondary education gives a strong mathematical grounding, Indian professionals can excel in the profession. However, since the State in its commanding heights absorbed much of the risks till economic liberalization beginning 1991, the Indian professionals lack exposure in complex markets. All this is changing fast and State initiatives in promoting risk management can lead to an India that is known as the hub of risk professionals.