Governments are increasingly implementing policies aimed at attracting or retaining highly skilled migrants. While a growing number of studies examine the effectiveness of these efforts, the actual mechanisms through which migration policies may operate have not been questioned. Drawing on an aspirations-capability framework for mobility, this article explores the role of migration policies in the geographic mobility decisions of researchers, a highly skilled group that has been specifically targeted by such policies. Focusing on Indian researchers and using qualitative methodology ( N = 40), we examine their decisions to study and/or work abroad, to stay or move elsewhere. The article shows that while migration policies do not seem to be influential in the attraction of students and researchers, they do play a role in the retention and subsequent moves of international talent.