The chapter is based on new empirical data collected through primary surveys and in-depth interviews with Indian skilled migrants in Europe and with returnees in India. The study found that Indian skilled professionals, scientists and students are contributing to their home country while they are abroad and after they return. These contributions are manifested in various channels of engagement including financial remittances and investments, social capital, knowledge transfer through diaspora interventions and physical return. The study focused on knowledge transfer through diaspora transnationalism and physical return to the home country. The chapter highlights the development aspirations of skilled Indians in Europe and illustrates the transnational actions they engage in to transfer knowledge and promote positive linkages. While Indian skilled professionals, students and researchers in Europe link their development aspirations to their return plans, and believe that Indian society can benefit from the knowledge and expertise they accumulate overseas, the reality is that they are faced with several obstacles within the local system in India. They also encounter difficulties when transferring the specialized knowledge and technical skills gained abroad after they return.