A recent economic forum held in India concluded that India should be looking towards the possible creation of local jobs outside of the confines of its country. It seems that vis-à-vis keeping jobs at home or away in Asia, there are various schools of thought currently abounding. HCL Technologies for example, believes jobs should be sent out of India, but other companies (like those in the auto and furniture industries), disagree.
At the World Economic Forum Annual Meeting, it was discovered that HCL Tech will be setting up 10,000 jobs within the next five years. But these won’t be in India; the jobs will be located in the West – throughout the United States and Europe. One expert at the Forum pointed out that since globally there are various different economic/business problems, India should look at this conference and see how it can help it out, not hinder it.
Recently, Angela Merkel, the German Chancellor, pointed out that companies should invest in Europe but to do so, jobs need to be created. Thus the HCL initiative will change the view that Indian companies are taking away jobs from people living in the West.
And of course we already know that trends within the Indian IT market are changing significantly, especially vis-à-vis pricing escalation. Thus India’s IT market needs to look at “new growth models” and other available options if it wants to keep up with global movement in the IT market.