Word: delhi
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Executives and economists see little chance that the boom in spending will slow down anytime soon. The National Association of Software & Service Companies, an industry group in New Delhi, expects that 1 million people will be working in call centers and other "back office" operations in India by 2008, up from 160,000 in March. "There will be significant opportunities for people to look for higher incomes," says Hemendra Mathur, a manager at KSA Technopak. For all those millions of potential Saurabh Kedias, the news could hardly be better. --With reporting by Sara Rajan/Hong Kong
...blistering 115? on a summer Sunday in New Delhi, and it feels as if your head is stuck in a tandoor. But Saurabh Kedia, 22, would never know it. The New Delhi native dips his flat naan bread into a dish of spinach curry in the air-conditioned comfort of a friend's private club. On the table lies Kedia's prized possession, an Ericsson feature-loaded mobile phone with PDA-like functions that cost him nearly $400, almost as much as an average Indian earns in a year. That night he plans to watch X2: X-Men United...
...jobs in a host of emerging industries that barely existed in India three years ago: retail chains, fast-food restaurants, mobile-phone companies and especially call centers, data-processing firms and other businesses that do "back office" work for U.S. companies. KSA Technopak, a management-consulting firm in New Delhi, estimates that these young adults command $10.5 billion in cash to burn. The spending of these college grads is rising about 12% a year?more than twice the pace of the economy's growth...
...cutting edge of this consumer boom is on full display in Gurgaon, a satellite city south of New Delhi that is rapidly developing into mall-rat heaven. Since December, three mammoth, glitzy malls have opened their doors there, crammed with a collection of stores airlifted straight from America's suburbs?Nike, Benetton, Pizza Hut, Subway sandwiches, even a showroom for Bose audio systems. Two multiplex theaters show such Hollywood hits as The Matrix Reloaded. Five more malls nearby are in the works...
...next. He tagged along with a friend visiting a call center. The recruiter there asked if he would interview for a job, and he scribbled out a r?sum? on the spot. His first task was troubleshooting for U.S. computer-maker customers over the phone, working all night in New Delhi to help Americans with their PCs during the day. Since then, Kedia moved to a similar company and has been promoted twice to manager. His salary has quadrupled to $6,200 annually?a treasure in a country where the per-capita income is only $470?and he believes it will...