Indian Economy: News and Discussion (June 8 2008)

svinayak
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Re: Indian Economy: News and Discussion (June 8 2008)

Postby svinayak » 31 Dec 2009 03:11

The Return of the Outsourced Job
To boost employment, local governments are wooing Indian companies such as Tata, Wipro, and Infosys. But the job gains are a drop in the bucket
http://www.businessweek.com/magazine/co ... 055490.htm

By Mehul Srivastava and Moira Herbst

BW MAGAZINE
December 28, 2009
Ohio Governor Ted Strickland is quick to admit that he doesn't "particularly enjoy heights." So why would he climb into a cherry picker to be lifted 40 feet in the air?

To show off a 196,000-square-foot office park in the Cincinnati suburb of Milford to executives from Tata Consultancy Services, India's biggest tech company and a thriving part of the Tata Group conglomerate.

To sweeten the deal, Strickland threw in $19 million in tax credits and invited the TCS crew to a state dinner at the governor's mansion. "The economy is difficult," Strickland says. "I will go wherever I can to find jobs."

TCS said yes, and in November Strickland showed up at the sprawling wooded campus for a ceremony to mark the hiring of the 300th employee at what has become the cornerstone for TCS's North American efforts. Tata has hired some 250 graduates of Ohio State University, the University of Cincinnati, and other nearby schools. Soon the facility may employ as many as 1,000 Americans doing back-office and technology outsourcing for U.S. health-care companies and local governments.

With the economy growing again—but unemployment stuck at double-digit levels—states and municipalities across the U.S. are scrambling to woo anyone with hiring plans—even if that means going, hat in hand, to the same bunch that have been responsible for hundreds of thousands of jobs going overseas.

LOCAL TALENT OFFERS ADVANTAGES
Dallas, Atlanta, Minneapolis, and Tallahassee have all been actively courting Indian tech outfits. Wipro Technologies in March inaugurated a center in Atlanta, which now has 350 employees—nearly 300 of them Americans, including senior managers recruited from U.S. tech rivals. Infosys Technologies, meanwhile, is planning an operation in Dallas to target some of the $52 billion the U.S. government will spend on outsourcing work in 2010.

For Indian companies, U.S. facilities can mean more work on government and health-care projects—areas where laws prevent the transfer of data overseas. An on-the-ground strategy gives them access to local workers who can better understand cultural nuances. And it lets them better compete against U.S. rivals such as IBM and Accenture, which tend to win lucrative consulting contracts that hinge on solving complicated business problems on-site, rather than simply writing computer code for cheap wages in India.

"We need to become more efficient, more sophisticated," says Sambuddha Deb, a Wipro vice-president who makes sure the company's India-based and foreign employees work seamlessly together. "It's not just about setting up software factories" in India.

Some critics say that the new centers offer little more than political cover and do little to boost employment in the U.S. "One reason they are doing this is for public relations," says Ron Hira, an expert on offshoring at Rochester Institute of Technology. "They want to send the message, 'We're creating jobs for Americans.'"

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Re: Indian Economy: News and Discussion (June 8 2008)

Postby amol.p » 31 Dec 2009 12:16


Singha
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Re: Indian Economy: News and Discussion (June 8 2008)

Postby Singha » 31 Dec 2009 17:26

items of common use like rice, atta, dal, bread, milk and eggs are up 20-50% in the past yr. for instance today I purchased "value store brands" from SPAR for rice ( 35/kg), moong dal (100/kg), eggs (12 for 38/), atta (27/kg).

for poor families these prices are pretty high although efforts are being made to find substitutes for sambar staple like urad dal with some "china pea"(?) and cheaper rice & atta is certainly available loose. but stuff like dal and eggs and milk and cooking oil will be costly everywhere.

children need these stuff. a balanced diet cannot do without these.

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Re: Indian Economy: News and Discussion (June 8 2008)

Postby nithish » 01 Jan 2010 01:42

FM sees GDP at 7.5%, negative agri growth

FM Pranab Mukherjee on Thursday sounded a note of caution on the agriculture sector coming in the way of India's gross domestic product(GDP) surging 7.5% in the current fiscal by pointing out that the agri segment is likely to witness "negative growth" in the third quarter of 2009-10.

"Agriculture is a doubtful area. For the country to achieve 9-10% growth, agriculture has to grow at least by 4%. While agriculture grew by 2.5% in the first quarter and by less than 1% in the second, it is likely to be negative in the third quarter of this fiscal
," Mukherjee said at a meeting organised by the Indo-American Chamber of Commerce here during the day.

amol.p
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Re: Indian Economy: News and Discussion (June 8 2008)

Postby amol.p » 01 Jan 2010 11:16

Singha wrote:items of common use like rice, atta, dal, bread, milk and eggs are up 20-50% in the past yr. for instance today I purchased "value store brands" from SPAR for rice ( 35/kg), moong dal (100/kg), eggs (12 for 38/), atta (27/kg).

for poor families these prices are pretty high although efforts are being made to find substitutes for sambar staple like urad dal with some "china pea"(?) and cheaper rice & atta is certainly available loose. but stuff like dal and eggs and milk and cooking oil will be costly everywhere.

children need these stuff. a balanced diet cannot do without these.




many people here have started a innovative way to save from price hike. Many socities are buying all grains & vegetables in bulk say 100kg sac and distributing in between themselves. This way they are getting 20% discount as they are directly buying from main distributor.....also I have seen people cultivating vegeies in there balcony gardens......

Rahul Mehta
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Re: Indian Economy: News and Discussion (June 8 2008)

Postby Rahul Mehta » 01 Jan 2010 11:35

Singha wrote:items of common use like rice, atta, dal, bread, milk and eggs are up 20-50% in the past yr. for instance today I purchased "value store brands" from SPAR for rice ( 35/kg), moong dal (100/kg), eggs (12 for 38/), atta (27/kg).

1. for poor families these prices are pretty high although efforts are being made to find substitutes for sambar staple like urad dal with some "china pea"(?) and cheaper rice & atta is certainly available loose. but stuff like dal and eggs and milk and cooking oil will be costly everywhere.

2. children need these stuff. a balanced diet cannot do without these.


So solution I propose is :

1. become rich or less poor
2, eat unbalanced diet, while you are not rich

What solution do YOU propose?

amol.p
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Re: Indian Economy: News and Discussion (June 8 2008)

Postby amol.p » 01 Jan 2010 11:58

Goldman Makes ‘Call of Decade’ by Promoting BRICs: Chart of Day

Goldman Sachs Group Inc.’s forecast that Brazil, Russia, India and China would eventually eclipse the Group of Seven countries economically has been described as “the biggest market call of the decade.”

The CHART OF THE DAY shows that stocks in the so-called BRIC countries have risen more than emerging markets as a group since Nov. 30, 2001, when Goldman’s global economics team first assessed their prospects in a study.
Brazil is the best-performing BRIC stock market since November 2001, based on a comparison of MSCI country indexes. India, China and Russia followed, in that order. Each of them rose more than the emerging-market gauge.

http://www.bloomberg.com/apps/news?pid= ... AiE&pos=15

amol.p
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Re: Indian Economy: News and Discussion (June 8 2008)

Postby amol.p » 01 Jan 2010 12:03

Ohio Woos Tata Consultancy as U.S. States Press India for Jobs

To sweeten the deal, Strickland threw in $19 million in tax credits and invited the TCS crew to a state dinner at the governor’s mansion.

TCS said yes, and in November Strickland showed up at the sprawling wooded campus for a ceremony to mark the hiring of the 300th employee at what has become the cornerstone for TCS’s North American efforts.

Tata has hired some 250 graduates of Ohio State University, the University of Cincinnati, and other nearby schools. Soon the facility may employ as many as 1,000 Americans doing back-office and technology outsourcing for U.S. health-care companies and local governments.

Dallas, Atlanta, Minneapolis, and Tallahassee have all been actively courting Indian tech outfits. Wipro Technologies in March inaugurated a center in Atlanta, which now has 350 employees-nearly 300 of them Americans, including senior managers recruited from U.S. tech rivals. Infosys Technologies, meanwhile, is planning an operation in Dallas, to target some of the $52 billion the U.S. government will spend on outsourcing work just in 2010.

http://www.bloomberg.com/apps/news?pid= ... OW4&pos=12

Singha
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Re: Indian Economy: News and Discussion (June 8 2008)

Postby Singha » 01 Jan 2010 12:18

Mehta saar, people might compromise on their own intake but indic parents will seldom like to short change
their kids unless things are really desperate.

end result of this inflation is more of income is going into the food basket and less into other heads like material possessions (clothes, durables) and savings.


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