Outsourcing to India, these words had a major weight if we look back, but today somewhere we can feel a great tension losing its weight. Markets change, the word definitely got a stronger sense after the trump attack.
The crisis has already started, with tight visa regulations, tech giants have started to join the big pink slip club. It is time for India to reinvent itself since its $150 billion outsourcing business seems to be slipping out of its hand. In future, one may get to only say that ‘at one particular time India was dominating the outsourcing industry.’ And that time has already started I guess.
Before things may go out of hand, India should look for economic revival, which is possible either by reinventing itself or looking for other greener pastures.
India: From Services to Technology Product Development
Yes, the time has actually come for India to actually start the transition from providing services to actual development. The current oval office policies may be giving jitters, but for India are they opportunities in disguise? Are people recognizing them?
The policies of either of these countries look promising for their respective nationals, for instance, we have ‘Make in India’ policy, while the US is going with the ‘Buy American’ policy. It is no one’s fault if we analyze the facts.
What Steps Should India take?
The Trump era will be there for some more time, the period will definitely be the testing time for India’s economy. Either it has to bow down and take the beating or stay away from the policies that can hurt the economy. Till some time India was the proud outsourcing partner for the world’s greatest economy leader. Today, things are being viewed in two different perspectives; one feels that an apocalypse has taken place, while the other feels that a new opportunity has come up.
‘The land of green card’ is slowly turning its back on Indians; I would beg to differ and doesn’t want to call it a slow process, as it actually is threatening the balance of the Indian IT landscape.
The dependency on US market is already showing the extreme effects, but on the same one cannot consider it as their day of reckoning.
The policy till now has not said about a complete block out. India may still have a chance, and if the policy makers truly understand the potential of Indian resources then we may get to earn more than what we had bargained for, but again the chances are bleak.
With four tech parks in the United States and a plan to hire more than 10,000 Americans, Infosys has already taken its first step towards this whole spectacle. Nothing rosy here for the Indian tech nerds, but at least India will not be completely losing its hold from the land of development, which always seemed a stone’s throw away from reality.