Globonomics!

One of the reasons I attribute to India being on the lower end of the salary spectrum is because we are not an innovative economy. We prefer doing things like BPO, KPO, backoffice stuff for others and while it is bringing in  FDI and encouraging FII’s, I don’t see it is a growth engine going forward. We are primarily a service based economy – we need to change that mindset – thats first priority. Services constitute 50% of our GDP and Agriculture is a measly 4 or 5%. Our share in world trade is a measly 0.5%. We should stop gloating about India shining etc. – its really not shining as brightly as the other growing economies – look at China – for starters – people who have been there tell me they are a decade ahead of us in every respect.

http://www.himalmag.com/2003/december/analysis.htm

I heard about a $1.2 billion deal for TCS – no use. Unless we build and create IP that is here to stay, we are doomed. Else, it will be an all too familiar saga such as the Yoga, Basmati rice patents with someone else taking credit for our work.

Interesting read:

http://www.mercer.com/pressrelease/details.jhtml?idContent=1284940