SAN FRANCISCO – Reports say the U.S. could benefit from Indian innovation and strategizing at a time when the global recession is waning. Experts say that India, which has dominated the outsourcing landscape for more than a decade, is likely to provide services and products that would benefit developing and industrialized nations alike. And these services range from sectors like health care, alternative energy and IT.
Much of the support for these findings stem from a panel discussion conducted by the Asia Society at the Center for South Asia Studies at University of California, Berkeley. The series, ‘Indique/Big Ideas from Emerging India,’ describes the infusion of innovative concepts and is now running on PBS stations across the U.S.
Following India’s trajectory in the global economy as speculated by significant investment consulting firms, panel moderator Navi Radjou, who is executive director of the Center for India and Global Business at the Judge Business School at Cambridge University, has established a website www.Indovations.net to showcase a stage for innovations inspired by India.
Indovations.net has recognized India as an inspiration for developing and developed countries looking to drive sustainable and affordable business – this is particularly true in the wake of a recovery.
The outsourcing industry is particularly impacted by India’s dominance in the sector. Though there are several major players in the outsourcing arena, stemming from a re-assessment of customer-based value among businesses in the U.S., the Indian mantra of cost savings and efficiency seems to be the mainstay in the offshoring business. Surveys indicate that India will continue to stay on the apex of top outsourcing countries for the next two decades as companies figure out a business model to rebound after the economic downturn of 2008-2009.
Cisco’s Vice president of engineering, Panelist Srikanth Hosakote stressed that global business is going through an era defined as ‘Globalization 4.0’ – ‘globalization of the corporate brain.’ Hosadkote adds that the major focus of a firm is to spread its company culture. He oversees more than 800 employees at Cisco’s worldwide operations.
David Schwartz, chief of corporate and product marketing at Obopay, a mobile payment firm, said that the company originally began in India as an offshore model and then transformed to a product development model. Obopay’s workers are spread 50-50 in India and in the U.S.
Jacob Cherian writes for SourcingLine, a leading provider of directories on top web design companies and software development firms.