Cycle

It's all happening again, it's all coming back. Magnonimity is at its peak, exuberance is overflowing, the basket of cornucopia is again back on the dinner table...or is it just that Goddess Laxmi is tweaking one of her fingers to show the world what is magic and what is illusion?

I was reading a leading Indian financial newspaper and got a general picture of Indian state of economy and I could not stop comparing it to United States as it existed in 1999-2001 era. It almost sounded like the new business model was the new direction in which economy was going to grow. Traditional ways of doing business for example, meeting your client in market place was gone. Everything was on the web and the web was the future of new generation. Neither did people realized that the 'old' economic model has been in practice for thousands of years, had aged and thus had reached the state of maturity. Which was not true for the internet-based business models, the hastiness in awarding the best and fittest and thus survivor, was as a matter of fact childish. Ideas were great but again as any farmer knows it takes time to rip from the seeds you have sown. The externality of IT was not accounted for completely.

Is it happening all over again in India? Are we matured enough in providing the best business process outsourcing services to the world? Have you found the never-ending source of wealth in form of BPO? Have we reached to that state when we can confidently say that alongside with farming our niche is providing BPO and such services to the world irrespctive of the country that we are dealing with?

Is this a temporary growth fueled by whims of World executives who want to cut costs and blow up bottom lines as long as they are on regimes? Is this huge hiring drive directly related number of jobs exported from other countries to India or is it bacause there is true market potential lying in India?

I hope none of the doubts raised by my pessimistic side of brain are true!

I want India to be a recognized power in that business. Ultimately, as you see India is leaving the rags of socialism and moving to capitalistic society to realize the riches it provides. Many examples, it all started with opening up markets in 1991 with liberalization started by then Finance Minister (current PM) Manmohan Singh, to privetization of state owned companies to firing of 400 employees in a day by Mahindra British Telecom in Pune. Yes, India is moving to Capitalism.


I think we are still in the second part of the play and will be interesting to see how it unfolds.