Word: indianism
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...people this year?a 50% increase compared with last year?because after years of relatively sluggish growth, the sector is roaring again. Revenues for India's IT businesses will grow by a heady 40% this year, according to Vijay Baoney, a technology analyst at Indian brokerage house Enam Securities. The problem for companies is finding enough midlevel executives who can train, groom and oversee the influx of raw recruits. "Experienced hires are not there on the scale that the industry needs them," says Hema Ravichandar, head of human resources at Infosys, one of the three largest Indian IT companies...
...Because demand is outpacing supply, tech analyst Baoney believes wages in the IT sector will rise by 15-20% this year?and it is midlevel managers, who command salaries ranging from $20,000 to $40,000 annually, who are getting the fattest increases. Indian companies are resisting, but they're losing the battle as American companies like Accenture and IBM expand in India and often lure executives with better pay packages. Silicon Valley-style job hopping is suddenly in vogue. "If an executive is working with a firm for two or three years, and he doesn...
...Some observers worry that rising wages will eventually erode India's competitiveness?the country will price itself out of the software outsourcing business, which has provided most of the sector's growth. "If the Indian [technology] industry keeps growing at present rates of 40-50% annually, then the current outsourcing model could break down in two to three years," warns Avinash Vashistha, a managing partner at neoIT, an IT consulting firm. U.S. outsourcing clients "will stop thinking of India as a one-stop shop for all their technology needs" and will turn instead to the Philippines, Russia or even Vietnam...
...dressed in a sari and adorned with a tilaka marking on her forehead, sang a self-composed Sanskrit song at the MTV awards before a backdrop of Hindu god images?simultaneously raising the West's awareness of Hinduism and incurring the ire of the religion's faith police. Things Indian have only gotten trendier since. But as Madonna discovered, cashing in on Hinduism can be a mixed blessing...
...coach on her own. Such stories puzzle Andrew Krieger, a U.S.-based financial executive, who believes India isn't living up to its potential. He wants to help change that. Krieger, who studied Hindu philosophy, is pouring $120 million into a planned sports facility in the Indian tech hub of Hyderabad, where international coaches will groom future champions in all sports. It will be a replica of IMG Academies, a coaching center in Bradenton, Fla., that has produced the likes of tennis champ Maria Sharapova. India "is a land of entrepreneurs," says Krieger, "and sports is the greatest entrepreneurial system...