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