Friday, January 02, 2004

Re: What goes around comes around

firstly.. happy new to all of you guys..

thank god we are on the receiving end of the job flow. outsourcing has become a major issue right now. here in india we regularly here of X co shifting thousands of jobs etc. not only call centers but major software companies like ibm, intel, accenture, ms.. of late even jobs like accounting, and other such tasks. one article (maybe on slashdot) rightly said that india will become the back-office of the world, like china has become the manufacturing hub.

the indian economy is booming as never before. the forex reserves are at an all time high. and everyone everywhere is bullish. we've had a great monsoon and even the manufacturing sector is growing.

what do you guys feel about outsourcing? our economy and india in the future? how much is hype and what do you really see happening? i wanted to ask mohn, how bad is the job scene really in the u.s. is it mainly because of the slow economy, plus the burn of loosing more jobs, to cheap india labour?

actually like the article said, globalisation/ free trade make this happen. we in the third world countries have always been affected by so called free trade. the developed countries simply dump all their extra produce destroying local economies. agriculture is one such area. the us and other countries provide heavy subsidies to their farmers while doing so is actually illegal under wto in a way i do not feel bad that a few jobs are lost abroad. its just that everything has to happen smoothly so that there is no backlash. and we indians have to be aware of competition. countries like china are catching up. like we are in manufacturing. our companies will have to always keep up in quality as well as cost.

we still have to improve in many areas. infrasturcture and government control are high on the list. lots of development work is going on and the recent advances in some sectors like telecom are excellent.

times are going to change for the good. super power no, but major power for sure.

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