http://economictimes.indiatimes.com/Euro_techies_turn_to_India_for_work_experience/articleshow/1782150.cms
If you look at the above article, it says that India is a major outsourcing destination; Indian market is good for investment. Therefore, it is true that India has good talent indeed! This kind of an article is more common these days.
It is almost a decade or even more that we are running in the global race, but to date we are promoted as low-salary, low-cost markets. This has been like a tag line for a while now. I do not have any problem with low cost markets, they do get us some good business…my concern is low salary. This tag line clearly indicates that we are good at things but are not paid equally well. Will this tag line ever change?
You may answer that … This whole process of transforming India into a global economy is gaining momentum and will need its time to be a global giant...I agree to all of that.
However, we do lack something don’t we?
My question is that what do we lack to be the best paid economy in the world? Comment plz..
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7 comments:
Well, For some reason the link is not active. I think it got pasted as a normal text link.
I believe, India would remain as a Low Salary market till an equilibrium in the imbalanced world salary structure is reached.
Economics or for that matter any spectrum of human existence always strives to achieve equilibrium. Currently the west dominates the scale with big salaries, big jobs. However India and the Eastern economies are now matching up quickly with Big Jobs Low salaries. So till the time our salaries match the US salaries we will be getting plenty of big jobs.
Thus it is crucial that Indians start their own industry and stop leaning so much on the west for business. India can invest the same amount of money doing Indian jobs itself that rely more on out-sourced jobs, we have the potential to develop products and services at low cost and thus have the balance of trade scales tilted in our favour and be competitive in world market. For e.g. japenese and german cars are famous all over the world, hence their car industry itself is quiet strong and dominates world market. Currently India and China have only cheap labor to sell in world market, though both are coming up very fast in high skilled industry themselves, but there is still time to go.
hey nice post......
get into more details, just a brief...would have a better effect...
otherwise nice on the whole!!!
KEEP IT UP!!
I think the gap will and should remain as it is not the great Indian 'talent' that has brought jobs into India. Economics is at play (as jatin has pointed out). As long as the gap remains jobs will flow in. But salaries in India are rising at more than 14% p.a. which is reducing Indias competitiveness. India has to move higher in the value chain to create local jobs that add value rather than jobs that reduce cost.
i believe we need an army of dedicated 'talents' as not just economic fundas will make or dreams cme true...agreed gap is necessary but define the gap in terms of space in economy. its like u be linient for a while, man thy ll eat u up. I think we shud have a target and hit it hard...and one such target is, as Jatin says "Indians start their own industry... "
yes.. enterprise is the way forward
The jobs have been flowing in for the salary disparity for sure, but then these big multinationals have also sniffed a big market for their products as well. Thanks to the rising salary, the disposable income has been rising, thereby creating a market, like never before.
But, the question is, whether this rate of salary growth can be sustained? Yes and No.
Yes.
As, the demand increases and headhunters run out of quality scalps at reasonable pay-checks, they'd be prepared to shell out obscene salaries.
No.
If that cost model is too heavy to affor, the way the west found it, developing countries will start looking at still cheaper options. Are we talking of Africa then?
"we do lack something don’t we?"
Yes, we do lack, and what? The answer is still Talent. Off many of the articles and discussions going on it, I've noticed a peculiar but a reasonable understanding that how much ever talent we have, we still lack, in terms of providing good quality talented workers, I repeat its workers and NOT entrepreneurs.
I'm associated with IT, and I've been knowing that people get into the Industry, and then are finding it very difficult to perform as per the requirements, who do we blame it for? ... the teachers? the parents? or the people themselves?
Also, majority of our low-salary paid ones, are those coming from either the rurals, or the suburbs with relatively lower expectations as those coming from the urbans. Its just that when you are getting more than what you desired, you are happy; but you realize the fact later, and there is never ever a good start again, in terms of your career. I believe this is the ground reality, which we somehow or the other miss it.
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