Life in India After 17 Years in Canada: One-Year Kolkata Update

2:50 >> And like I think let's talk about some of the experience in the whole one year like in terms of the other aspects or the other things that were exciting. >> absolutely. One one thing that I would say it started a bit differently that you know we were coming from a very different background in India. we have to although we have like I have spent my most of my childhood in this city so I was acquainted with some of the nuances at the same time I wasn't one thing I have learned and I again I kind of knew it but you know putting things in a practical perspective makes you the you know real learner that we have a India in our minds we dream about a India so when you are away for it for a minimum of 10 years outside India and you come back, we have to actually adapt with the fact that India has also changed you know in leaps and bounds not just little bit. So if you the faster we

3:51 Accept this reality the better. >> Yeah. So in my case and for the same like for the same reason my wife and I we both were open to this change and of course we found glimpses of our childhood years but at the same time we have to adapt to the new things that's coming in like a lot of thing like we talk about nowadays we have digital India the whole GST thing that is going around so these were all newer things we have to learn and adapt with and also that impacted us economically our expenses and everything. So I think for the first year before we moved on to work ideally we were living on our savings something very critical for someone who is moving out of any nation when you decide to move to India or you plan go for an exit plan first you should build like while you are in your other country you should build up your savings ideally ideally 3 months of savings will actually help you to

4:52 Navigate the surprises when you come to

4:55 India. In our case also it worked out in a similar manner and by the time you know you get to the point when you are completely depleting your savings off the next opportunity came in or rather you have to continuously try because you the savings will deplete at one point. I think that's one of the learning thing and we resolved it also. so that is some that will be my suggestion when you have the savings then only you move. Yes, makes sense. So, let's talk about like maybe was there any time did you feel like you missed Canada or anything that you've you know during this one year? This is a great question and if I give you the honest answer I'll tell you yes there are many instances because when we are navigating the challenges amidst a whole new I would say city which has evolved the surroundings have changed neighbors have changed you know I'm meeting people

5:57 Mostly newer people a generation has emerged so yes you have to like you know you have to equiliiberate your relationship with everyone at every domain personal and professional and things don't move at the speed you desire to you know things are very different when it when we talk about India the emotional you know the EQs are very different between the people of India and rest of the world particularly Canada in my case so we have to adapt to that so many of times things were also not happening to my liking or our liking those were the points or I gave you an example previously that the the you know

6:34 The the hot and humid weather there were many instances when we were you know adapting the challenges we were facing we definitely felt and we still feel I should say it's present that yes I miss Canada like this is the time for example when we are moving out of the summer the ba you know when we are talking about the winter we are used to seeing snow everywhere which we are not so yes the answer is yes we do miss Canada >> got it So looking back is there anything that you would think that you would plan differently you know moving to India? Yes. if I have to plan differently like after moving to India like as I said India is no more the India I have left back in 2008. So one of the thing which is in our favor actually for anyone who is coming to India and also for the people who are staying in India in everyone's favor I should say

7:36 Nowadays as you know we talk about things like inflation that is one of one of the big things one of the next major challenge in India is medical inflation because I think compared to other countries the medical inflation has gone like it has exponentially increased over the years like I think I don't want to quote a number but give and take it's around like you know 11 and 13% the medical inflation which is quite high >> that preparedness should be there because you know when we move like we are all aging that's a reality too so we have to plan accordingly and I think the thing I need to share and I think it will be probably benefit most if not all of your viewers who will be watching is is the financial planning is critical yes >> in in new India in today's India because without that we won't be able to combat with the general inflation medical inflation or any other kind of inflation

8:38 That's the first thing >> yeah completely agree so let's dive into that I think we kind of touched about you know the savings that is required before moving and also the reality of the India which is the inflation like what are the things that you have planned personally or things that you would suggest for people when they are planning their finances especially the assets from abroad to India the investments that they can do in India from your experience and from your own journey what would you suggest people to do in terms of the investment options in India >> absolutely I would love to share it categorically I have to go back a little bit starting from Canada so you know when when you are talking about of course when anyone moves you know we tend to bring things which are linked to our emotions some of the things of course in my case also when we moved we could not bring everything particularly when you're moving from Canada or any part of North America to India the the core category of things

9:38 That's completely becomes out of the question is electronics because of the you cannot really run the electronics that you procured or purchased in Canada in India you know it's an issue so that is one of the thing But you do have some of the emotional things you know photographs and those kind of things that you would like to bring. But apart from that when it comes to the savings is the key. If someone is very you know financially independent and a person of financial discipline what I'm going to share is not going to be new to that person. A person who is financially disciplined in Canada say will be financially disciplined in India or any part of the world. But if someone has just you know enough savings to move because you know people also migrate to India under different financial condition for different needs. So I'm actually talking about them who probably just someone who had enough money to move to India and then the person let's say

10:40 After coming to India has depleted his or her savings. >> Yeah. or it's it's significantly low to bear the cost new cost that he's he or she is going to face in India. What is that situation going to? How will that person cope? I think this is a reality. The first thing while you should be aware that you have to have to survive here it's an emotional decision and it has to go on in a positive way. You don't want to come to India and get back with with a negative you know feeling and also when we say getting back that's also another set of expenditure you know it's not just an emotionally emotionally I can fly to Canada but in in reality I have to book my flight tickets so I would say when you coming to India in the first few months or before coming to India I did a year before one homework someone should do that how we are going to financially plan the years in India First, what is my goal, financial goal?

11:40 What is my optimal salary? Or if I'm in a business background, how much I'm going to draw into my pocket? It can come from business. It can come from as a salary. You have to start your negotiation with your employers. Of course, I'm guessing that you're going to come here and work from that because your salary is the key to running because your salary the number will actually determine your financial planning. Let's say someone is going to come to India and withdraw a certain amount of salary. I'm just giving you an average number. I'm just throwing a number. Let's say 30,000. This is the salary after tax. So now the moment I have the salary coming in the first 3 months for anyone who has moved it's very difficult to calculate because when you get your first money initially when you're trying to settle down your expenses will be very very uneven.

12:34 >> Yeah. You know because you are buying things more than you require. Your grocery getting used to your grocery you are probably nowadays we are ordering food from outside that trend has ch changed. So that is something so you have to give that first 3 months then you actually will understand what is your real budget when you have stabilized. Now the moment you are on that tipping point you have the budget you know your salary is 30 30,000 let's say you take your salary and immediately start saving some amount of money and I think that amount should be around 15 to 20% ideally 20%. 20% should immediately go to your savings and the next move you should go is you should immediately have your health insurance if it's a family definitely for everyone we have many health insuranceances in India and compared to the times I was I left India I think you

13:35 Would also agree the health insuranceances also have become they're no more the same kind of insuranceances with very you know sometimes different kind of locking period and to gone are those days. Nowadays if you go for insurance if you you should look for things which which kind of I should say equilibriates with your health conditions. If you have a lot of health condition >> definitely take the health insurance. If you are absolutely fit and fine then also take the health insurance. This is an underlying thing I would say. I was not a believer of this thing but as I looked into the medical inflation and look around myself in India people who are getting hospitalized just the daily amount of medications they are buying thousands of rupees spent I think that's a big learning thing you should have your health insurance otherwise whatever money you have saved that from that 20%. will be

14:35 Deplet depleted like you know a single hospitalization will take away everything. It could be some a very simple dental procedure or a gallstone removal. It can be something very simple as that. I'm not even talking about the complex expenditure. So health insurance I will say start the health insurance early because most of the health insurance which I was aware but again not aware when you start the health insurance you cannot really to really have the advantage of the insurance you cannot claim in the first period in the first year ideally it's 1 year so if you start early you will be finishing up those 12 months quickly and probably if something happens to you you can aail the insurance if you start after 5 years say then you have to add another year to your waiting period and it's you are now walking in a very risky zone.

15:24 >> Yeah. >> So health insurance is something 20% savings every month you can do. There are many things one can do in our times there was something called a recurring deposit that formula has now changed and just slightly changed it comes up with a new phenomenon SIP. We know the SIPs are must. You should also have some liquid cash as a medical emergency fund or a fund for uncertainties. So to summarize, regular sips for saving liquid cash for medical emergency suppose the cashless option is not working then link to that you should have a health insurance and as quickly get over that waiting period. And fourth is what I said is what I said general saving, medical emergency, health insurance and then after that when you have built up the basics then you can start thinking of your retirement plan which is also equally important but first health then wealth that's how I think so I think

16:26 That mantra will work for most of them and the real salary doesn't m like doesn't really matter. So what I'm trying to say if someone is going by my example and is thinking okay I came to India and I just started a day job and

16:39 I'm getting like you know a part-time I'm starting off I'm paying getting only 15,000 let's say >> this formula of 20% saving and health insurance and sips can also work for them. You can start a sip with as low as 500 rupees you know so start early that is that is my biggest advice every month. Yeah, completely. I think the compound interest is the eighth magic, right? I think starting early gives that advantage. Yes. So, let's switch gears and talk a little bit on the career side. I know your plan was to take a break at the time of the move. so, how easy was it to find the jobs here in India after moving? and your experience working in India like after spending almost more than 17 years in Canada. So if you can talk a little bit about the ease of finding the jobs and the work culture or like you know the working opportunities here in India

17:41 Right so for me I would say by you know if you call it luck or if I call it divine grace I didn't face much challenges but I can still be able to share why I did not there are some active steps which I took so that I don't face the challenges or at least minimize you know the waves So I think if someone again follows that kind of a trajectory will benefit. So again I think this entire conversation from the beginning has is at every step it's coming down to planning. So planning of every sector of your life is important. We talked about health and now we are moving on to the next sector which is education and career. So in my case it was career. So I would say plan well and you know at my age I'm in my 40s so if someone is listening at my age I was actually looking for a position which is more of a leadership position at this moment. So I was actually completely ditching out based on my earlier experiences in Canada.

18:43 I was completely ditching out the entry level positions because that will not work for me at my age based on whether you call it salary or work satisfaction or leadership. So in order to do that we know that most of the jobs that the advertised jobs that we see globally including India are essentially most of them are entry level. So the only way you can get into leadership position is through networking and many people and I have you know in informal chats with my friends who are now in Canada maybe thinking of moving in the future when they talk to me there they always say that you know when I'll go to India in the first 3 months I'll start networking because I know that country I was born and raised there that is a mistake when you are in any part of the world you are always in touch with your home country we Never detach oursel from our roots or our family or our relatives. In the same way don't detach yourself with your

19:44 Network, professional network I'm sure someone probably like me I when I went out of India I was a student then but I had a network at that time. I was always been in touch with that network and networking means not like I want a job but what you are doing how you because all my colleagues they also are getting promoted they are also advising me about the institutions the university rules you know the career the career if you want to come and take a teaching job what are the rules what are the pros and the cons what are the salary structure which institute is working better which institute isn't. So all these things I was getting updated information and I was also following the news of the country. these are essential thing. Don't lose your network and follow the growth of your peers.

20:36 >> Yeah, that network will actually help you to find the job when you come here. Otherwise the reality is I think many of again many of the people who have migrated will agree if I just land up from nowhere in India or this I think this is true for any country in India because we have a higher populations you are actually treated as a foreigner doesn't matter if we have an Indian name or Indian surname you are actually Mr. no one and you have just landed up. People are busy with theirelves and their growth and their surroundings. All of a sudden I'm entering someone's house or someone's you know domain and saying I want a job. That really doesn't work especially when you are looking for leadership job. So networking is key.

21:21 Take help of domains that help us to network. You know one of the one of the

21:25 Tools that greatly has helped me and again I'm saying this this shouldn't be a paid promotion kind of a thing. We all know that LinkedIn is a platform and there are many similar ones. You pick one someone can pick one which is useful to them and keep the networking going. >> The next job is actually hidden there. That's all I would say. >> No, makes sense. Yeah, always. I think especially for the senior leadership role, networking is the only way to go. >> absolutely. Yeah. is there anything that we haven't covered or any advice that you want to share with the future aspirants who are thinking about moving to India? one thing I would say in line with the previous reply that discussion that we had just repeating this >> one thing I would definitely like to say in continuation with what I just said in terms of finding a job there is one domain which I have not which I haven't touched which is the area of you know I

22:28 Want to become an entrepreneur so having you know starting something a new venture a startup up that possibility has skyrocketed in India with new set of rules with the current government and everything also someone who is you know not everyone would like to get a job or a you know a kind of a 9 to-5 scenario some for someone might be thinking I want to go to India and start a business not everyone has a family business also to pick up >> so the avenues are much easier know that and pursue accordingly and going back to that when you are finding a job when you are working on your finances definitely know the taxation system of your country like when I'm moving to India I should be well versed with the taxation system of India because from the first year if not from the second year in my case it was the second year you have to file the income tax so your your papers your documentation whatever is needed in

23:28 India whether it's like some pieces of bi or other card you should procure that and well first with the taxation system because that will lead you ahead. We cannot really ditch the financial part that's of foremost in importance and in parallel to that the health part that's the first thing without these two don't even think of moving to India that's that's a very you know that's a reality it might sound harsh but that's the reality and I will just in simple words I will answer your question the real question that you ask me even after moving after spending like you know we moved in 2024 and we are almost almost 2026 is knocking at the door. I would say that still there is a lot of hope and positivity in there. I a lot you know I was discouraged big time you know after staying for about 15 plus years why are you moving you won't be able to cope India has a lot of challenges yes there are challenges I miss Canada I go back to what I just said but there is also hope and enough hope to make this

24:30 Country socially culturally and we can make it beautiful socially culturally and economically by contributing so we should not be thinking that we should never move back to India The country has changed. The country has changed. There are ample opportunities. If you tap at the right avenue, if you knock at the right door, you will be able to see the opportunity. There are plenty of opportunity. If you want to work in a for-profit sector, there are opportunities. You if you want to work in a not for-profit sector, there are plenty of opportunities. I am working in an institution which is kind of a hybrid of forprofit because it runs to school and also not for-profit. So I'm learning from both the domains. You know they are kind of mirror images. It's very difficult to balance them out the mindset. So pick your someone should pick their own interest pursue it and go by their gut feeling and also their professional network which they have built for years of networking will be

25:30 Able to guide them. So I think that's that's I would say. So do come back to India. If you're thinking of a general message I'm giving to your audience. Please come back and be a part of the nation and you will be able to do a lot of things and also achieve your dreams. There is hope. >> No, thanks for that. And then last one thing like how do you describe your experience or life in India for the last one and a half year in one word like if you have to put it in one word how >> one word if I have to summarize my India experience. Yes I would say just use you know a single word would be experimentation. >> Okay. a simple word because I have never seen I have achieved like after coming back at every step I have seen it's not a it never gave me a feeling that I have achieved this so this is done at every step I'm opening a new box and experimenting with it the results are unknown but it's falling into my

26:31 Favor so it's an ongoing experimentation >> great yeah thank you very much Abhishek for taking the time and joining us again to give an update how the life has been going in India since we talked last year. so good luck with everything and as you unbox the new you know new box or something and then everything falls in favor and you know the experiment goes in the right direction. So thanks again for joining us. >> Thank you so much Ain for the very kind words. It's always been a pleasure talking to you and thank you for having me once again and I also wish you all the best for the future and labor. Yeah, thanks.