Friday, February 18, 2005

India special: The next knowledge superpower

Good article on the changes in India from the growing high-tech industry there.
Everyone in the US is familiar with the growth in off-shoring office jobs. This article...

Today we know that the trickle of jobs turned into a flood. India is now the back office of many banks, a magnet for labour-intensive, often tedious programming, and the customer services voice of everything from British Airways to Microsoft.
In reality, the changes in India have been more profound than this suggests. Over the past five years alone, more than 100 IT and science-based firms have located R&D labs in India. These are not drudge jobs: high-tech companies are coming to India to find innovators whose ideas will take the world by storm.

It concludes...
Nevertheless, the rewards for India of a thriving science-based economy could be huge. The investment bank Goldman Sachs estimates that if India gets everything right it will have the third largest economy in the world by 2050, after China and the US. India is not yet a knowledge superpower. But it stands on the threshold.

New Scientist India special: The next knowledge superpower - Features


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