|
India's
areas of impact
The western world has seen the dawn of a new India over the last
decade. Worldwide India has been recognised for its niche in delivering
world class service to the international community today. The financial
capital of India - Mumbai's - stock exchanges speak the saga of
the various sectors that have been booming along with the accelerating
rise of the Information Technology sector. It is also of a general
belief in the international market that leading venture capitalists
do not easily fund multinational operations if they are not outsourcing
to India. On the face of this success, India sees rising competition
from countries like China. But then India is miles ahead of them
in terms of resource capabilities such as the large number of young
English speaking talent pool, conducive environment for international
firms to run operations etc. Below is a highlight of the sectors
which have helped India to carve it niche and leave a mark on the
international business arena.
Software: India has established a brand for itself in the
global software industry as it is the most preferred destination
for developing applications for finance, digital appliances and
industrial plants.
IT consulting: Companies such as Wipro, Infosys, and Tata
are managing U.S. IT networks and reengineering business processes.
Call Centers: India's ITES conducive climate with English
language spoken fluently among the masses has many US companies
to outsource from India. Thousands of Indians handle customer service
and process insurance claims, loans, bookings, and credit-card bills.
Chip Design: India is not just a manufacturing or software
export centre it is a centre where now sophisticated technology
designing takes place. Intel, Texas Instruments, and many U.S. start-ups
use India as an R&D hub for microprocessors and multimedia chips.
India progress as a successful global player is all pervasive and
the same is depicted below with India's targeted areas of future
development:
Financial Analysis: Research for Wall Street will surge
as U.S. investment banks, brokerages, and accounting firms open
big offices.
Industrial Engineering: India does vital R & D for GE
Medical. GM, engine maker Cummins, Ford and other manufacturers
plan big engineering hubs.
Analytics: U.S. companies are hiring Indian math experts
to devise models for risk analysis, consumer behaviour, and industrial
processes.
Drug Research: As U.S. R&D costs soar, India is expected
to be a center for biotechnology and clinical testing
Source: Business Week, Asian Edition, December 08, 2003
|
| 
