The Indian illusion
"If the United States continues to outsource jobs to India in increasingly large numbers, people will begin to feel insecure and may very well seek more protection against what they view as unfair competition," said Hillary Clinton via satellite to the attendees of Global IIT conference in San Francisco.
To her I would say this. “Tell your countrymen not to worry, Hillary. Indians are digging their own graves by a combination of over-hyped productivity, wage inflation, rising attrition and low supply of skilled engineers. To that you add economic benevolence offered by a rising rupee, rising costs of real estate and power (as and when available!). They won’t stop until cost arbitrages are wiped out completely and Americans and their jobs are together again.”
P.S. - Not kidding....Ms.Clinton had planned to appear in person, but organizers announced Thursday she would deliver her remarks via satellite. The attendees were promised if they handed in their business cards they would be returned with a Clinton autograph.
Labels: Hillary Clinton, IIT conference, Offshoring backlash
posted by Krish at 11:51 AM
2 Comments:
I work for a productised research start-up and we often find it very difficult to get the right talent that we are looking for, be it in finance or in technology.Talent is of poor quality, very short in supply and they deal with prospective employers unprofessionally.
Iloogical increase in wages also make it very difficult for us to retain people.
Shreyasi,
Welcome to reader base.
I can see that with my clients too. The illusion springs from India’s IT enterprise dominance in application maintenance. Check out large data centers or the systems integration market – projects that call for complex program management, industry knowledge or change management, they are miles away.
In finance, a one-size-fits-all MBAs advise clients on M&A transactions – leading to stretched valuations that choke up the client’s balance sheet with unmanageable debt, making a client’s (debt-free) balance sheet look like that of an over-leveraged hedge fund. The I-Banker laughs his way to the bank is another matter, getting paid by the client and rewarded (in cash/kind) by the gratuitous lender...
Hope people will wake up soon...
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