Middle class American dream turns sour?
Record job losses for IT employees! World events affect students careers.September 11th, economic slowdown, IT meltdown, Enron collapse. All these have severely hit the career prospects of young Indians. September 11th hit the H 1B Visa seekers, the IT professionals whose American dreams shattered, as America tightened its rules for American visas.
Hence there is a steep decline in US visas, visa seekers numbers declined and so in the US too Indian IT professionals lost jobs in Silicon Valley. Also at home the events forced the high salary holders to lose jobs, their ESOPs became paper profits and there is gloom. Engineers from IITs are seeking admissions into MBA courses instead of the usual route of campus recruitments by the IT majors.
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India’s big breakthrough in technological skills now!
Yes, this is no exaggeration! Indians now seem to be achieving highest world class skills in a variety of technological skills. There is now a revolution unprecedented. I mean the IT revolution. A new generation of highly skilled engineering graduates, a few lakhs, who have transformed into a software super power.
Of course, the industry leaders like Narayanamurthy had cautioned us, pointing out we are still a miniscule software exporter, considering the world market. China’s IT export is to touch 200 billion dollars! But the point is that this achievement, reached so far, had transformed the minds and imaginations of the new generation. India is now the “call centre” of the world, the 1,00,000 young men and women are earning in figures what their elders couldn’t have imagined all their government service jobs, just a generation ago.
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He can’t compare India with China! He should ask Indian achievers!
The Prime Minister Dr. Manmohan Singh was in Bangalore recently. He met the state leaders, fine. Bangalore is the IT capital of India. Some of the best success stories in IT, Biotechnology are here. One doesn’t know what the PM had seen and learnt from the Bangalore’s successes, be it technology, or infrastructure. Bangalore is equally proud of its urban governance. So, from faster economic growth to urban infrastructure development to effective governance models, Bangalore can teach lots of lessons for the Central government.
Even in the planning processes, the IT CEOs have shared lots of thoughts with the public. Industry leaders like Azim Premji, Nandan Nilekani, Kiran Karnik, not to speak of the redoubtable Narayanamurthy are some of the achievers. Kiran Mazumdar is another achiever in the biotech sphere. One hopes the PM had taken back with him the thoughts and experiences of these leaders. And yet, one sees the PM also talking, as he did not long ago, asking Indian industry to “emulate the China model!”
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Confidence, energy and a new upbeat mood!
India, a happening place?
Yes, yes, say observers. Go anywhere in Bangalore and what you see is the furious speed! Why? There is development on all fronts. Rising glass and concrete can’t but dazzle you. There are all the big names in MNCs, the new economy names: Intel, IBM, Oracle, Accenture and what else. All are in Bangalore, now it seems for permanent settling down!
More cheering for the country, for the ordinary men and women is the fact that is a rising employment generation for the best qualified. Be they, IT pros, new type high entrepreneurs, Internet businesses or BPO or even engineer and doctors, they are all now coming back to India. Yes, home coming is the new phenomenon, the new reverse migration. The growing offshoring combined with rising employment opportunities in India is drawing Indian IT professionals settled abroad, back to the country. According to the National Association of Software and Services Companies (Nasscom), between 2001 and 2004 roughly 25,000 Indian IT professionals settled abroad have opted to return to the country. And this number is rising.
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Some of the new technology products from Apple, Sony, Microsoft have changed the way we live and do our business
Just now I read how Singapore is the number one tech-savvy economy. Beating America to the fifth position in the”Networked Readiness Index” by the World Economic Forum. U.S.lost its top position after a three year reign.
Americans are ahead of others in innovative technologies and marketing strategies and still dominates in its high quality scientific research institutions and business schools and other indicators of high development including venture capital market which had spurred innovation. Read More →