February 1, 2004
Looking to India for jobs
Posted by tomo at 07:10 PM in culture , politics . | 2 Comments
Although Americans aren't relocating to India en masse, it appears to be on the rise. The economy over there seems to be doing quite the opposite of how it's doing here. Their manufacturing companies are doing well and even opening up factories in the US. They are therefore looking for Westerners who will be able to interface with other Westerners in connecting India's products in many industries to the markets in Western countries. For some positions, they are even willing to pay Western salaries.
India is still a poor country, but it would be possible to live in a home with most modern amenities as well as a servant or two. A Silicon Valley-style gold rush in Bangalore could churn out some millionaires as well. And as India becomes a more cosmopolitan and "creative" nation more accepting of foreign talent, something Richard Florida sees America heading away from due to the government's policies, the millions earned there could be worth much more than they are relative to the US dollar today, which may continue its drop in value. If that never happens, it could still be a cheap country in which to ride out the current economic slump.
What interests me most is whether or not, with an infusion of capital into the subcontinent, we we will one day see real scientific advances coming out of a nation with that many scientists, especially if in cooperation with the other similar developing nations of Brazil and South Africa.
Comments
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I hadn't realized how bad the dollar is doing these days until I started planning our vacation. The following charts show the value of the US Dollar compared to other world currency over the past 2 years. Here is an investment tip: Get rid of your US Dollars. US Dollar to British Pound Posted by: ryan at February 2, 2004 12:57 PM |
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Those are pretty scary charts. Posted by: agent1073 at February 2, 2004 3:07 PM |