For 20 years, Amrendra Kumar, 43, lived in Moscow where he built a business of supplying steel pipes to the oil and gas industry. In 2007 he reckoned it was time to be a part of the India growth saga, which had reached near - climactic levels. That his two sons — 10 and 12 — would get a better education was the clincher for the non - resident Indian(NRI) to return to local shores. Today, Kumar is in Dubai with his family. His plush bungalow in Gurgaon has been vacant and the business shuttered for a year now. Kumar represents a Brazilian firm and has the responsibility to grow the Russia market. " I shuttle between Dubai and Russia. Since our company has plans to expand toAfrica, Dubai is a good base, " he says. The numerous opportunities to build infrastructure coupled with corporate India ' s aggressive growth plans, which all resulted in a buoyant job market, had lured a rash of executives and entrepreneurs of Indian origin back to the country. Even in the wake of the global financial crisis of 2008, as the western world sank into a recession, India appeared to be relatively sheltered from the storm. Today, thoseNRIswho thought it safe and wise to return to their roots are disillusioned. And it ' s not just because economic growth has retreated from near double - digit levels; prospects suddenly beginning to look brighter elsewhere coupled with the sheer difficulty of doing business and getting a move on in India are making many pack their bags and move back — or anywhere else where the grass is greener. In June 2011, ET Magazine had written on " The return of the NRI ". Today, two of the four executives profiled in that feature have moved base to the US. " The flight of capital from the stock market is being accompanied by the flight of human capital. India is no longer the magnet for attracting global talent it once was, " says Vikram Bhardwaj, president and CEO of Redileon Partners Inc, an executive search firm. Bhardwaj himself moved to Detroit, US in 2012 to grow the business there. " Being in the business of constantly monitoring the ebb and flow of talent, we could gradually sense the centre of gravity shifting back to the US and that prompted me to ' lift, shift and fix ' myself to our offices inNorth America, " he says. Today he has 24 employees in the US and 16 in India. Three years back, the situation was just the reverse — four in the US and 30 in India.The Tide has TurnedIndia is no longer a hot destination for top global talent. " Earlier, people wanted to relocate to India. Today, there is a higher degree of hesitancy, " says Rajeev Vasudeva, managing partner, Egon Zehnder International, an executive search firm. There are many reasons behind this reverse movement. " When people came to India, they returned with lots of expectations, " says K Sudarshan, managing partner(India), EMA Partners International. Many of those expectations were unrealistic. India was always a difficult country to live and work in. But the sizzling India story meant that they ignored — or overlooked — many of those cracks that they should have noticed before making their career moves. Two, many executives signed up job contracts when the dollar was pegged at ` 45-50. And typically, these are two to four - year contracts. With therupeesubstantially depreciating, many have taken a significant hit on their incomes in dollar terms. Three, getting globe - trotting executives on board had almost become fashionable among Indian entrepreneurs when theIndian economy was at its growth peak. Many of these entrepreneurs had not put in place systems and processes that these MNC executives were used to. This has resulted in significant disappointment for many of these executives who struggled to successfully handle their portfolio in India. Four, perhaps the most important, India no longer looks as attractive a market to build careers. The developed world looks better as the economies there recover. It helps that they offer a better standard of living and a more evolved corporate life — reasons that have perennially attracted Indians to these markets.