Everyone fails to understand - 1. If Rupee keeps on rising there are going to be massive lay offs. Whether people like it or not but most of the Indian junta is in IT industry. Already big companies like IBM, Microsoft, Accenture are looking at setting up offices in alternative countries. 2. Because of all these years of export boom, the overall housing market and in general prices have gone up. The average household credit has gone up. What if you lose your job and you are not able to pay the mortgage and your creditors. 3. The article mentions that this is time to plan your trip. But if you are without a job how are you going to pay for the trip. 4. The layoffs in export industry is going to have spiraling effect. Once export people start losing jobs, most of the other jobs are gone... 5. I work with clients in USA and already clients have started looking at other options including some african countries. They don't care whether they cannot speak english. They can always hire a manager in US who can speak both the languages. Don't be under the assumption that all the western world doesn't have an alternative because India is English speaking country.
At the end, I think this is just a temporary phase to control the pricing in India. India cannot compete with higher rupee rate in global economy.
RE:My thoughts
by Swarup on Jul 29, 2007 10:52 PM Permalink
Response: 1. Big IT firms are looking towards other countries because of shortage of trained labour in India - not cost. They can easily adjust wages to compensate the rise in rupee. India will not lose business due to this. 2. Exactly, that is called inflation. And that is the reason why RBI does not want to intervene. 3. You won't be without a job, but your salary may be reduced. 4. Hmm, if you read the story properly, experts are saying this will be the biggest inflation reducing factor. 5. I work in the US too, the western world do not come to India for love of India. The want result for a price they can pay, period. They will always look for an alternative. Indian IT industry should compete by qaulity, not cost alone.
Man! your last comment took by breath away. This is the mentality that keeps us behind.
RE:My thoughts
by Ameet Phadnis on Jul 29, 2007 11:06 PM Permalink
On your point 3 - Salary getting reduced. I live in Pune and I know the cost of living which has sky rocketed right now. The real estate market is just gone way up. But still some of these IT folks went ahead and purchased those expensive apartments. How do you expect them to pay their mortgages. Salary reduction and lay offs are bound to happen in the near future.
I think the last comment is not the mentality that is the FACT. Our economy is too tied to the GLOBAL ECONOMY. Can we sustain our growth if we do not get export orders. We won't be able to sustain if the global market collapses. Get Real....
RE:RE:My thoughts
by kshitij divakar on Aug 03, 2007 02:31 AM Permalink
Dear Mr. Please widen your eyes. At all the time India is better than any other country. Think again. Not emotionally quoted by me. Be it clear. Indian economy will definitely rise more than its thoughts. And note it It will go with the greatest fluctuations. See it here .......with me. Thanks
RE:My thoughts
by Seenu Subbu on Jul 29, 2007 10:55 PM Permalink
Right. We have products that sell in India and all across the globe. I mean, other than the 14 hour working Indian IT slaves.
RE:My thoughts
by Loan Shark on Jul 29, 2007 11:51 PM Permalink
you are right ... these IT companies make employees work long hours while showing them a carrot of on-site assignment.
The competition is fierce and so if you complain that you have a family life, you are considered to e "not a team player"
But, what do Indian programmers want ... code for dinner, code for sex. LOL
RE:My thoughts
by Confused on Jul 30, 2007 01:15 AM Permalink
layoffs it industry etc are the front, my common sense tells that if the currency is powerful country is powerfull i am waiting for the day when Rs. 1 = 40 dollars.That is possible if there is strong leadership to the country and the indians shed theirs habit of corruption and work hard...
RE:My thoughts
by Shantanu Bapat on Jul 30, 2007 03:39 AM Permalink
Layoffs will be enevitable if rupee keeps rising. Actually, I see INFY and other good firms putting in hiring freeze. They should then get rid of non-productive, those work life seekers and whiners. Bad times are good for company if they can tighten the belts. So lay offs will be good for economy. I pray that layoffs happen soon, my INFY stock will go up.
RE:My thoughts
by m ganesh on Aug 02, 2007 07:37 PM Permalink
I am worried about my future what if BPO's are closed?? Waht do i eat and survive with my family whatever happens the rupee rises or falls who cares?? We need jobs and government jobs are a rarity now with quotas for OBC's SC/ST, muslim quota, and consider quota for SC/ST in corporate companies also.
RE:My thoughts
by kshitij divakar on Aug 03, 2007 02:27 AM Permalink
Hey Man, Yaar ! Had Kar Di ? What are you thinking. A Talented person can earn everywhere in the world and the work will go on. If you have not taken still a loan then you can definitely surive everywhere in the world in India Also.
