The Highly Skilled Migrant Programme (HSMP) is designed to allow highly skilled people to migrate to the United Kingdom to look for work or self-employment opportunities because of shortage of qualified professionals there.
Why it has suddenly become popular?
The HSMP has been a very successful program since its inception in February 2002.There are basically 4 reasons. First, short processing time. It generally takes between 4 to 13 weeks to assess your application, far less compared to visa for any other country. Second, it is a drop-box visa i.e. you don’t have to clear IELTS or face any interview or appear for any medical. Third is the work liberty it engenders. You are not bound to any employer. You can pick up any type of work. It could be as an employee, a contract worker or self-employed or a combination of these. Fourth, you can take your family along to U.K.
Highly skilled! But, I am simply a graduate. Can I apply? 

Of course. Even a diploma holder (12+3 pattern) is eligible provided he fulfils other requirements.

What are those other requirements? Tell me more about the HSMP Scheme.

Mainly, the applicant for HSMP is assessed on points based system. There are 6 areas where points can be gained and you must get a minimum of 65 points to be considered. The areas are Education, Age, Experience, Achievements, past earnings and spouse qualification.

My brother is an MBA and working as a manager with a big company. But he is only 27. Is he eligible?
Age is not a barrier for HSMP application. On the contrary, U.K is trying to attract young professionals who can remain active in the market for longer. The HSMP scheme now has a new assessment for applicants aged under 28. This provides for separate and relaxed criteria for work experience and past earnings for those under 28 and an age allowance of 5 points. Further, if your brother has done M.B.A from any of these universities he gets a priority to work there for one year. But, unfortunately there is no Indian university in the list.
Is it a work permit? 
No. Whereas the work permit requires a specific job offer from U.K in order to apply, The HSMP permit means you can come to the UK to look for work instead of needing an employer to sponsor you first
How long can I stay in U.K under HSMP? 
Under the HSMP applicants will initially be granted 12 months' stay in the UK. Then towards the end of the twelve-month period applicants can apply to remain in the same capacity for a further period of up to three years. After four years as a highly skilled migrant, applicants can apply for permanent residence (properly known as “settlement” or “ indefinite leave to remain”).
Can my family come with me to U.K?
Yes, your spouse and dependant children aged under 18 can accompany you. You only need to demonstrate that you can support them in U.K.
What kind of work can I do? 
You can undertake any work. It could be as an employee, a contract worker or on self employed basis or a combination of these. Put simply, you should be lawfully economically active or if not so, should have taken reasonable steps to become so, especially when applying to extend your stay in U.K.
Does my spouse’ qualification or work experience make any difference? 
Yes. You gain 10 more points if your spouse has a bachelor’s degree or equivalent, or graduate level work experience.
What is this graduate level work experience? 
This means experience working in a post that normally requires the holder to have a degree. You may not have the degree but you had demonstrated through your experience that you have necessary skills to work at this level.
Can my spouse work there? 
Yes. However, that employment must not be necessary to support you or any other dependants.
How long does it take to process my application? 
From 4 to 13 weeks. If the HSMP team needs to make further checks or seek additional information, your application could take even longer. If you require an urgent decision, you may submit an urgent treatment request by completing an 'HSMP-Request for Urgent Treatment' form.
How much money will I need to qualify for HSMP? 
There is no set amount. You only need to demonstrate that you can support yourself and your dependants without using the Public funds in U.K.
Can I appeal if my application is unsuccessful?