Indian Economy is not only dependent on software Industries.we import a lot than export Our crude oil import(INR 170000 Crores) 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 Salaried class of people 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=Rupee. These 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:RUPEE SHOULD ALWAYS BE STRONG.....
by kris on Jul 25, 2007 09:31 PM Permalink
Jay
why accuse IT companies??
Govt. has done nothing to promote IT, they are on its own( like becuase of English speaking people, most of the govt. school or regional langauge as medium of instruction)
If other sectors pay well, like advertising,pharma,oil etc, people will go there to work. when it comes to the employee distribution, IT is nothing.
people will go where there is money. People will leave IT easily, if they get better pay in Muncipality as well.
Finally, it's money that's calling the shots. Indian engineers are not lethargic or lazy, if you don't believe this, then check the Indian presence and capabilities in NASA, MIT, ISRO,GE, BOSCHE, BHEL, Caterpiller, Carrier... etc.
RE:RUPEE SHOULD ALWAYS BE STRONG.....
by Rohit Maiya on Jul 25, 2007 10:39 PM Permalink
Got has done a lot initially to promote IT. They got tax holidays, got lot of lands fro cheap rices and sometimes free of cost. A lot of SEZs are still occupied by these IT companies. Now that they have grown, they should not bother too much about the strong rupee.
RE:RUPEE SHOULD ALWAYS BE STRONG.....
by harish dayanand poojari on Jul 25, 2007 09:13 PM Permalink
i appreciate your thought though i work in IT. its very imp that india concentrates on lot many other areas than only IT.
RE:RUPEE SHOULD ALWAYS BE STRONG.....
by Vinod A on Jul 25, 2007 09:23 PM Permalink
Hi Jayaram, I do appreciate ur thinking. But could you let me know the great R&D work that the other Non-IT people seems to have managed in India?
RE:RUPEE SHOULD ALWAYS BE STRONG.....
by Sumit De on Jul 25, 2007 10:32 PM Permalink
You should be aware Vinod that India has really made huge progress in the feild of Micro biology and Pharma, it has huge impact on fertilizer industry R&D, more over the water sector in India is booming like anything, people are giving more thought for treatment of Water and Wastewater as these are not importable items, all these are non IT feilds, just u have to look around
RE:RUPEE SHOULD ALWAYS BE STRONG.....
by Ajay on Jul 25, 2007 09:31 PM Permalink
For sure, Indian should be able to travle overseas and enjoy life. Stronger dollar is better for the country.
Also i do not believe a 10% appreciation would have a major impact on the bottom line of IT service providers. As their revenue would decrease they would either pay lesser salary and increase productivity with smaller bench or longer hrs with each employee working multiple clients. This might impact medium end end property prices but nothing the economy cannot work over.
The smaller exporter will be affected and FDI for export oriented units will decrease. Well, eventually India will have to develop it's own market and India for large extent is a self driven market.
My concen for inda are more on the socio-politcal in nature. i worry about corruption, rule of law, income disparity and size of population.
Provided we can take care of these factors Re /- will work itself.
RE:RUPEE SHOULD ALWAYS BE STRONG.....
by on Jul 25, 2007 10:10 PM Permalink
good comments. Let the rupee stabilize by itself. Hopefully the inflated housing markets in leading cities might cool down to realistic levels thx to the dollar weakening.
