Party over?
I decided to come in to the office a little earlier than usual today, and was surprisingly welcomed with an unusual phone call. It was an agreeable young woman calling me from Naukri.com, Mumbai, one of India’s biggest E-recruitment companies.
“Dear Mr. (My name goes here), I would like to know if your company is hiring senior executives for this fiscal year, as our 2007 database has just been updated with highly qualified graduates and industry pioneers”. .. or something to that affect anyway.
I engaged in petit business talk with her for a while and eventually told her that we are not in need of anyone at the moment.
This is only one of several calls I have been receiving from major Indian companies in the last 2 months, which clearly indicates that the Indian market is trying to look for back office/IT/recruitment related business from other countries other than the States, Singapore and Russia. Is the party over? Is the Indian outsourcing boom slowly reaching a saturation point? Or has it only begun?
Currently, it looks like the roses are still smelling fresh, especially considering companies like Tata Consultancy services, Wipro and Satyam, have all posted profits in the billions. But there is also a confluence of uncertainties at play. International competitors such as Accenture and IBM are posting huge profits back at home to ride on the back of a huge corporate spending boom, an appreciating rupee that is cutting into earnings, a severe shortage of qualified talent at home, and a cap on H-1B worker visas to the U.S., along with pre-2008 election protectionism threats. All these factors are not exactly supporting the Indian outsourcing cause. This only means one thing. The Americans are beginning to look for Indian alternatives. And Indian companies are looking for American alternatives.
Who will eventually drive bigger profits? As a realistically inclined, business oriented person, I have to say that our economy will have to start investing a lot more in other areas, and do it FAST. Whats your take?
“Dear Mr. (My name goes here), I would like to know if your company is hiring senior executives for this fiscal year, as our 2007 database has just been updated with highly qualified graduates and industry pioneers”. .. or something to that affect anyway.
I engaged in petit business talk with her for a while and eventually told her that we are not in need of anyone at the moment.
This is only one of several calls I have been receiving from major Indian companies in the last 2 months, which clearly indicates that the Indian market is trying to look for back office/IT/recruitment related business from other countries other than the States, Singapore and Russia. Is the party over? Is the Indian outsourcing boom slowly reaching a saturation point? Or has it only begun?
Currently, it looks like the roses are still smelling fresh, especially considering companies like Tata Consultancy services, Wipro and Satyam, have all posted profits in the billions. But there is also a confluence of uncertainties at play. International competitors such as Accenture and IBM are posting huge profits back at home to ride on the back of a huge corporate spending boom, an appreciating rupee that is cutting into earnings, a severe shortage of qualified talent at home, and a cap on H-1B worker visas to the U.S., along with pre-2008 election protectionism threats. All these factors are not exactly supporting the Indian outsourcing cause. This only means one thing. The Americans are beginning to look for Indian alternatives. And Indian companies are looking for American alternatives.
Who will eventually drive bigger profits? As a realistically inclined, business oriented person, I have to say that our economy will have to start investing a lot more in other areas, and do it FAST. Whats your take?
posted by MyBitchIsYourItch @ 10:46 AM
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