I keep hearing how people are being laid off in the US and how jobs are being outsourced to India. The other day it was IBM that was doing the outsourcing. Then there are others. Good for the Indian economy I suppose. Globalization.
So when I spoke with a friend of mine in India, the first thing I told him, "you guys should not be complaining about recession. You are getting all the jobs that are lost here."
Of course he felt they too were in throes of recession. Take Bangalore for instance. It used to be the hub of exports. The IT industry is what he was referring to you. "It is not the case. Things are slow here too. "But they are slower here. We are feeling more of an impact here, in the US" I said.
It's like, "when the US gets a cold we sneeze." I smiled but did not laugh. "A good phrase" I said, but I don't think he heard me. So he repeated, "when you get a cold, we sneeze."
"At least you recognize that US matters. Hopefully, so will rest of the world."
It can get tiring to hear how much we are hated. Period.
Friday, April 10, 2009
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3 comments:
ofcourse IT folks who were getting 30-40% salary increase every year and already hug salary and 100k new jobs every year.. wants that to continue and now its not the same. so they say recession in bangalore. but if you try to buy house in bangalore its still too much to pay for. reason indian economy is growing and IT is only <20% of indian economy.
its very different story in india. india's export GDP ratio is low (unlike china) only around 35% meaning >65% of indian economy doesnt depend upon what's happening else where.
iamyuva, thanks for your visit and comment. I believe a large portion of India's economy still agriculture based. Hope to see more of you.
I think we all are connected, more now than ever.
"when the US gets a cold we sneeze."
Its a latency problem and those who make "the most of it"
-rajiv
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