Be Indians all we should be happier what is going on in Indian economy.For the sake of a few area impacted, we shouldn't avoid to improve our poverty line.Would appreciate if along with the currency inflation( economy) all other social develpements and system improvements are also considered simultaneousely.The results would many NRI working outside must say Good Bye Overseas!! Manoj Kalita-Abu Dhabi,UAE
RE:Good Sign!!
by Sangi on Jul 25, 2007 10:19 AM Permalink
Hi Manoj, Well noted!! Its true that many Indians are thinking to go back , already many are in India from verseas too. Let our people work for our country. What resource Japan has? Nothign. Still they are one of the major ecnomic country in this world. If we indian work hard and mentain our degnity then Mr. Kalams 2020 will fulfilled 2015 itself. VendheMAthrum!! Jai Hind!!!
Indian Economy is not only dependent on software Industries.we import a lot than export Out crude oil import is much more than the combined export of WIPRO,INFOSYS, SATHYAM,TCS and few software majors. so i feel we no need to worry about dollar weakening against Indian Rupee. From 1200 crore net profit if 10-15% is reduced for INFOSYS why RBI should bothered. Let govt improve small scale and local Insustries and supply quality products to Indians. Let Salried class of India go abroad for leisure travel and do see the world and enjoy life like Americans and europeans.why always govt wants our people to go abroad as cheap labours and work and send money back with higher conversion USD=Ruee. Thse software companies have made indian engineers lethargic and lazy. Now every techie wants to sit on system and get high salary. No one is interested in R&D , production, Sales/Service. Thsi trend has to change for better development of our economy and inflation.
RE:INDIA DO MORE IMPORTS THAN EXPORTS
by sreelekha on Jul 25, 2007 10:29 AM Permalink
Very True...hopefully with this changeover the govt will look at what we have and what we can do for ourselves and come up as a nation with the best possible resources and manpower...hope this makes avery positive change...lets all face it try contributing our best for it....Still we love our country so JAI HIND.....
RE:INDIA DO MORE IMPORTS THAN EXPORTS
by madhukar chaudhary on Jul 25, 2007 10:10 AM Permalink
That is absolutly correct...Software industry has made people lazy...no doubt...
RE:INDIA DO MORE IMPORTS THAN EXPORTS
by Bharat Kumar on Jul 25, 2007 10:34 AM Permalink
Very wise observation.Recently my Uncle(a mechanical engineer) at Hyderabad opinioned that engineers presently compromise on their intellect to get a hefty sum by the tech companies. All Mechanical/Electical/Metallurgical aspirants are changing their main stream for an easy life. Even the Civil engineers are in great demand today but are scarce- thanks to silly BPOs and IT Consultancy firms. Engineers of any specialization have unquestionably a good calibre and acumen. It's a pity that the IT industry is savagely churning out developers/testers/programmers from the job market for which these engineers are overqualified!!
The feeling that an appreciating rupee will lower exports is rubbish One can import more and export more and keep the export target at 145 billion. The other factors- loss of employment, etc is also rubbish. profit margin may come down marginally if productivity is not increased. the cheaper dollar should be made use to increase import of raw materials and export more at reduced price.
We need to allow the Rupee to appreciate. It is a sign of good economy. When the economy is on the raise evertthing becomes more expensive. Along with the growth in the IT industry the cost of labour in this industry has also grown drastically. The IT companies have to understand that the input costs in not just the cost of labour but also the cost of currency. Asking for RBI intervention by IT companies is as much unacceptable to others as implementing salary cuts will be to its employees. When the rupee depreciates oil majors are making losses but when rupee appreciates, IT companies are seeing only decreased profits. There are no prizes for guessing what is right.
If observe carefully then one can realise that it is dollar which is weakening due to internal pressures in the US economy. Rupee has not done much vis-a-vis Euro or British Pound. Only because we have pegged majority of our exports against USD, we are facing this dilema
RE:Rupee is not rising but dollar is weakening
by Kishore Kumar on Jul 25, 2007 10:25 AM Permalink
That is correct, it is the dollor weakening. IT companies primarily Infosys & Wipro, they concentrated only on US not the other countries, that is why their profits are decreasing. In contrast TCS gets less revenue from US, though their profits affected not much as Infosys. The most unfortunate thing is IBM is eager to grab the IT contracts in India, but our BIG 4 companies hate to provide service to our Indian Companies. IBM bagged 2 Telecom Contracts (Airtle, Idea) our companies not even bothering about it. It is pity.
I have lost almost 10% of my reserve value...just because of this strengthening. Cant do much....its a cyclical thing...rupee will finally stabilise around 41 I would think.....
I want to ask the government,who is giving relief for rupee appreciation to exporters, whether these software exporters paid any extra taxes to the government when they were earning extra margins due to rupee depreciation.
i am an nri.i work in dubai..i am getting loss due to the rise of indian rupee...but i am proud of it..i want indian rupee to rise more...we import much than exporting..so totally care about the people of india they will be having the benefit...why u care for infoysys and satyam..
RE:nri
by poonam dil on Jul 25, 2007 01:10 PM Permalink
I echo his sentiment. Indians should be proud of a strong rupee. NRIs should return to a progressing country.
Its nice to see people think the exporters only make those people like Infy, Satyam and TCS. Gross inability to see the writing on the wall. For any economy to be good its not the imports that should arise but the exports and the Finance Minister is moer interested only in the imports being increased more. His allegiance is like that. The three finance stalwarts are ruining the country on the long run and you people won't understand it now.
There are many export houses which employ more people than these kind of technical labour especially many semi skilled and skilled labours goto these kind of export houses. Imagine what would be the impact of losing jobs? 2,75,000 would indirectly mean a lose of livelihood for over a million people. The finance minister must be very happy to know that. He would be happy to know there would be more jobs for Americans in US, Britons in Britain etc. Also look at our losing the competitiveness. All this is to keep the stock market ticking. Sad psycho mentality.
Before people say somethign about to hell with infy and all trust me these people won't lose or cut jobs but its the poor layman who works hard and earns his bread working hard under the sun.
WE are totally fed up with this govt. This govt is killing exporters,NRI'S & NRE. everybody should unite and kick this govt from the power for ever. They don't have any policy.
RE:This govt is killer
by shovon dasgupta on Jul 25, 2007 10:13 AM Permalink
To kick out the govt u have to come here and give ur vote..Guess u will never do that u techie coolie..better stay there and let the govt do whatever they are doing..at least we can think in terms of imports rather than exports because of this rupee appreciation..
RE:RE:This govt is killer
by RR on Jul 25, 2007 10:01 AM Permalink
Rajeev we are happy coz we earn rupee and spend it. Stop looking at dollars as your profits.
