Saturday, December 6, 2008

India-Europe And outsourcing: A Win-Win Game?

IIT Delhi Seminar Hall witnessed another important discussion on a topic too relevant to the present times in the view of the financial crisis of which no country could remain unaffected, few worst and rest worse. As the customary duty I was again put to the task of proposing the vote of thanks. The discussion was well attended by people from various institutes in addition to IIT alumni, its students and faculty members. Panelists were Mr. Ashish Gupta( COO, Evalueserve), Mr. Jean Joseph Boillot(Economist-India & China, Co-founder, EIEBG-Paris), Mr. Laveesh Bhandari (Economist & Director, Indicus Analytics) and Mr. Joy from Sodexo Food. The discussion was moderated by Ms. Mythili Bhusnurmath (Consulting Editor, Economics Times).
Other than the usual thanks giving statements the vote of thanks consisted of the following.
.............Today’s topic for the discussion “India-Europe Outsourcing-A win-win game for both” is too apt for today’s time when the world is facing financial crisis and huge uproar in job insecurities. Thanks to Internet, world today seems as one big platform, available to everyone to be used for the betterment of oneself and humanity. Boundaries dividing the nations seem to be facing a virtual collapse. Internet is a big threat to selfish politicians because it is really a boon in uniting the world and thus defeating the purpose of the politicians to keep humanity divided and separate from each other. Today’s problems, humanity is facing, have outgrown the capacity of any one nation and hence world must seek solutions of large scale problems united. I must say that in the new world economy, boundaries today or tomorrow will vanish in their original sense and each person would be a world citizen. India has attracted the whole world to herself, owing to the huge talent pool she enjoys. I am sure that today’s discussion has succeeded in bringing India and Europe together to solve the problems both civilizations are facing. And discussion stirred today in this hall of IIT Delhi will go a long way. Discussion held here will definitely prove to be fruitful in bringing the two civilizations closer and making them work together in almost all the areas including KPO.
Leveraging the talent pool available in India has been top most priority of all companies in developed countries. Indians by the virtue of having a rich spiritual heritage (though they are unaware of it) are the most contented and best people to partner with. No wonder, the world is looking forward to patner with India and its people.
I agree with Mr. Boillot that possible benefits of bringing the talent pool spread worldover within the accessible reach of everyone and anyone are tremendous.
I agree with laveesh that this is the era of specialization and that's what should be the driving force for the upcoming economics. Unfortunately, Indian economy is woven around services, serving the world, assisting the companies world wide in customer support and we are yet to come out something original and too significant other than the excellent talent pool India possesses.
I would disagree with Ashish for his concept behind cost cutting to be the only reason for the world to turn to India for its work. Cost saving is indeed a prime reason for European or US companies to outsource their work to India but that is not the only reason. In addition to cost saving, companies are able to leverage the excellent Indian minds for a cost 1/10th of what they would have paid elsewhere.................................

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