SPOTLIGHT INDIA: Thriving Amid Imperfections
India may well be the flag bearer for the global outsourcing industry.
In the last three years, India's economy posted tremendous growth which
make it stand head and shoulders above other countries that provide
offshore services.
But the country is not entirely devoid of imperfections, some of which it
is yet to overcome.
As discussed by a recent article from USA Today, India still suffers from
less than excellent basic infrastructure (airports, roads) and its
government still reeks of corruption.
Development is still limited to a few areas like Bombay and Bangalore while
majority of the population still languish in poverty, with less than a
dollar to tide them thorough each day.
But in the last three years, it has focused intensely in knowledge-based
industries. Indian companies discovered there is money in doing the same
work others are doing abroad - that companies are willing to let go and
outsource at lower cost.
The hunger, however, does not stop there. Indian companies have gradually
evolved into high-value work over the last few years.
While Indian programmers used to write simple computer codes, they now
design and build the software themselves. While its people used to sell
credit cards over the phone, Indian financial analysts now do brokerage
reports for Wall Street clients.
India's success proves that despite poor infrastructure, private
businesses can still thrive. Despite a sizable population still living in
poverty, it can still produce the most talented knowledge workers.
The same imperfections exist in any Third World country. What's India's
secret to success? Whatever it is, it's worth taking a look from other
countries in the region.
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