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Monday, March 20, 2006

High Class Talent,High Growth Economy & Global Growth

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.

As I wrote earlier, do not read these as the signposts for end of the road for the west : No Way - Most leading Western companies are turning toward a new model of innovation, one that employs global networks of partners. These can include U.S. chipmakers, Taiwanese engineers, Indian software developers, and Chinese factories. IBM is even offering the smarts of its famed research labs and a new global team of 1,200 engineers to help customers develop future products using next-generation technologies. When the whole chain works in sync, there can be a dramatic leap in the speed and efficiency of product development. The US is the economic engine of the world – lets hope that it continues to innovate faster, better and emerge stronger. Collaboration in innovation is always a workable solution. Together with the Asia let more innovation blossom and let the world prosper a lot more - innovation and prosperity are closely related. Free trade, good economics are an expansive win-win for all around the world.

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