Feb

13

Business Process Outsourcing and IT major power India is facing the heat this 2009.

Will the fires burn the country’s economic standings or will these fuel India’s progress to greater heights?

The Satyam scandal has seared a black spot on India Inc.’s reputation and business cred, amidst the wildfire of an unstable world economy. One has to wonder how India is going to fight these fires.

Grace under Fire

Indian CEOS, in a demonstrative move for empathy and leadership by example, has voluntary reduced their salaries by 20 to 30 percent. Many have been honest to say that it is also out of necessity as they are determined to help their businesses thrive and survive the financial crisis.

American Big Co.’s execs could learn from their Indian counterparts on how such sacrifice could lead to success.

Sparks of Genius

Multinationals are tapping on Indian know-how, research and development for technological innovation for economic advantages. India already possesses a growing population of scientists and engineers who are fluent in communication, talented in their chosen field of expertise.

General Electric is already taken advantage of India’s brilliant human resources through its John F. Welch Technology Center. The 50-acre campus employs 3,500 scientists and engineers to create inventive patents on medical equipment, aircraft engines and locomotives.

Fanning the Fires of Battle?

India faces China on another battlefield, this time of trade. The Indian government places an embargo on toys made from China. China contests this ban on their products as “unfair” and plans to raise this to the World Trade Organization.

To be frank, I think India has every right to impose such restrictions to Chinese products, particularly with the recent findings that these are unsafe and hazardous. If China had only put more value to quality rather than making cheap products, I don’t think they would be having this sort of problem.

India might be facing fires right now but it is fighting these with the same energy and fierceness, India’s economy might rise a bit scathed but more tempered and whole.

Outsourcing Solutions, Inc. – your outsourcing partner!

References:

  1. Biswas, Shreya. “CEOs taking voluntary pay cuts to stave off job losses.” 11 February 2009. Economic Times of India. Accessed 12 February 2009. Link here
  2. Bagla, Gunjan & Goel, Atul. “Innovation from India: The Next Big Wave.” 11 February 2009. Business Week. Accessed 12 February 2009. Link here
  3. Srivastava, Mehul. “India-China Trade Tensions Rise.” 11 February 2009. Business Week. Accessed12 February 2009. Link here

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