A good article(http://money.cnn.com/2011/01/10/news/international/china_magnus/index.htm) on china's rising economic and political dominance on international stage was published on CNN. It claims that the China's remarkable achievements over the past 20 years were in part due to rapid globalization, which are now at risk due rising tide of currency, trade and inflation.
I can't help but wonder why did India not exploit all the opportunities it had in the last two decades? What exactly went wrong? Why didn't India not capitalize on the amazing once in a century opportunity, it was handed over by the talented engineers and outsourcing wave.
I believe India lacks many fundamental infrastructure and policies to rise to the world stage irrespective of all the opportunities. As it is said luck is opportunity meets the preparedness, India was simple not prepared. The evidence of shortsightedness is also visible in their entrepreneurial success. Most of the companies who have succeeded from India are in the service industry. In spite of all the knowledge base, opportunities and resources, India never truly created products which competed on international stage.
Take for example Infosys. It created a product called Finacle for core banking in 1999 and after over a decade, it only constitutes less than 3% of it's revenue. With all the financial backing and technical know-how it is still not able to make Finacle a world leader in financial industry.
Well, I do not plan to answer this question tonight, but just continue wondering.
Take for example Infosys. It created a product called Finacle for core banking in 1999 and after over a decade, it only constitutes less than 3% of it's revenue. With all the financial backing and technical know-how it is still not able to make Finacle a world leader in financial industry.
Well, I do not plan to answer this question tonight, but just continue wondering.
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