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Monday, March 20, 2006
There is so much buzz going around centered on India in the last few days. Starting with IBM announcing the setting up of global solution center,a development watched around the worls with considerable interest. Dell’s recent announcement to double the headcount of its employees and begin to locally manufacture, are all indication of the increasingly felt depth of talent and a sense of bullishness about what the future holds for it in India . Businessweek recently covered Nokia focusing on locally manufacturing to tap markets in chindia. Rightfully so, the recent visit of President Bush to India was seen as attributable to its growth potential. Demographics is favouring India big time – half the population of India(that’s about 600 million) are under 25, when every economy including china’s are expected to get impacted due to ageing population. This is also helping fuel some globally noticed developments like Novatium's low cost PC's. Before I begin to get hate mails about jobs getting stolen and some going ahead and predicting that few more years these investments and jobs would migrate to Africa hollowing out new asian beneficiaries, I want to just point out that trade works both ways. Just saw a Toyota ad in businessweek claiming that it has created around 400,000 jobs in the US and dig deeper – you may find that on account of the expansion of the Indian economy , it is that theglobal banking players like Citigroup & BoA are increasing their presence in India.
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