Indian IT : Building on Sucess

Thought provoking speech on Indian IT industry's current status and future orientation by Mr. Jairam ramesh, Minister of State for Commerce at the recent NASSCOM meeting is given below http://www.blonnet.com/nic/nasscom.pdf

India is a closed economy - Is it true?

Recent Asian Development Bank (ADB) report says that, India is more a closed economy. So we will not get caught by the Subprime crisis flu of US. But, I don't know why our markets react heavily to that episode. We have sufficient growth and monetary management to come over this kind short term liquidity problems. Hope India had learnt a good lesson and don't overreact next time. More news on this topic http://www.ft.com/cms/s/0/8f78fbf8-64cf-11dc-90ea-0000779fd2ac.html

Rupee - Dollar appreciation - Good or Bad in long run !

A big debate is going among corporate financial honchos about the recent appreciation of Rupee against Dollar. Some say that our export revenues will get affected due to this rise and very difficult to manage with rising employee costs. Some may even face job cuts and revenue cuts. Many of our IT & Textile companies have more than 50% of revenues in Dollars. Both the sectors are also pioneer in their respective segments. So, the cost efficiency factor plays the rule. So, We have to be prove our competitiveness in order to hold on exisisting markets and expand to new markets. Export oriented Indian corporates had faced this Rupee appreciation problem for the first time after 1991 economic liberalisation. So, this hiccup is a lesson for the future. For more news on the above http://knowledge.wharton.upenn.edu/india/article.cfm;jsessionid=a83053612e7431751f13?articleid=4218

India's Q1 GDP Growth @ 9.3% !

India's GDP rise in April - June 2007 period to 9.3 % is a another feather in the cap of rising economy. This period witnessed so much troubles in both domestic and global arena. Rising inflation was very high and the central bank took its own measures domestically. Globally, there were fears on future growth numbers of India. There was high Rupee - Dollor appreciation in this period. So, We are progressing well towards the double digit growth.

For more news http://www.forbes.com/markets/2007/08/31/growth-india-update-markets-econ-cx_rd_0831markets07.html