When U.S. sneezes India catches cold - is nothing more than a famous old by word which is the emblem of the unawareness about globalization and liberalization. My friends' out here seem to be sitting still in the 80s where India was a thin lame nation far from its strength, and its political and financial robustness today. Be it the finance minister or the Reserve Bank of India, everyone knows about the strong fundamentals of the today's uplifted and motivated India. A recent IMF report says that the "emerging economies of India and China will sustain their growth activity and provide an important source of stability" and I am sure everyone knows the authenticity of IMF. Neither are the builders of new India, nor are the IT experts lying that this recession will have a positive growth as was expected and outsourcing will increase. The Indian IT sector could use the opportunity to project itself as the place where hard - hit American software companies can park their computer services and solutions. Lets take that step by step. First comes the so called devil of Recession. With US market slowing down, the professionals would have no choice but to look at other options. This makes the right time for Indian IT companies to develop markets other than US. Such development of new markets turns out to be a great advantage to India and the result ---- Recession become an angel. True that Recession brought along some cons, but we have to focus on what it can bring and not upon what it has brought. Infact, every economist knows that many US companies who outsource software services to India would do more of it; many companies who had not outsourced services to India would start doing to do so. The combined effect of these two developments would benefit, rather than hurt India. There is a silver lining to every cloud, and there is no reason to fear the worst from a U.S. slowdown. The historical experience of the 20th century itself suggests that the Indian did rather well in periods of international recession and depression which allowed greater space for domestic production to merge, diversify and grow. Moreover the performance of hit markets cannot always be regarded as barometer for determining the recessionary impacts, since hit markets players conceive in philosophies of arbitrage and reflection and not purely scheme happenings. I must say confidently that this slowdown of US economy could be a “simhavalokanam” – the proverbial act of looking back and taking stock by the Lion – to introspect, correct, look at new pastures for growth and hopefully grow into the next phase. Lets not forget, no nation is strong , except for the little minds, with beleiefs, aggregated together which make it strong. And no nation can effect an economy like ours- THE INDIA's, OUR STRONG INDIA's
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Rajesh Kumar Gupta on 2009-03-13 06:39:07 wrote,
Prashant Gaur on 2009-03-13 19:57:02 wrote,
@Rajesh Kumar Gupta,
Priya Juneja on 2009-03-13 20:19:50 wrote,
This is a global era and in general also no country can develop in solitude whether it's economy or culture or politics.......Dependence on other nations is not a negative thing.... And who says only India depends on USA.... The dependence between India and US is very much mutual.... US has Indian doctor, NASA has Indian scientist.....US banks have Indian depositors.... Though the dependence of US on India is less it's crucial....... And being very honest that holds equally well for India as well.... :-) Dependence is not destiny it's natural phenomenon...
ALina FArace on 2009-05-18 13:37:06 wrote,
I totally agree with Priya Juneja. Nice explanation.
ankit gupta on 2009-06-08 16:28:51 wrote,
have u ever googled urself?
Priya Juneja on 2009-06-08 17:31:52 wrote,
Yes ofcourse........many times........ And just a few days back i realised that this article comes in search results..... :-)......