Outsourcing Continuing to Grow
While India’s service sector was hit by the global recession, outsourcing is projected to grow in 2009. The recession has companies desperately looking for ways to say money, and they are considering outsourcing more seriously now than during the boom.
Education Being Addressed by Companies
While India’s public school system is not particularly strong, outsourcing companies like WiPro and Infosys have set up their own training programs. College graduates go through a 4-7 month program that equips them with the equivalent of an MBA. These companies recognize the need for India’s workers to be productive and technologically savvy if they are going to stay competitive globally. This should be a model for other nations, and we will come back to this. India’s government also recognized this need as well. Before India had even gained independence, the groundwork was being laid for the Indian Institutes of Technology, a network of engineering schools that has and will continue to enhance that nation’s standing as a global competitor.
Terrorism/Political Turmoil
While more rooted in religious tension than economic inequality, India has its own political instability to deal with. We are all familiar with the recent tragic terrorist attacks in Mumbai, and there is uncertainty about India’s relationship to Pakistan. Nevertheless, like China, India’s economy continues to grow and we must view it not just as a competitor, but as a partner and customer.
So what are some strategies that we, as metal finishers in the U.S. do to compete in this global economy?