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India’s Economy: On Fire or Overheated?

India’s Economy: On Fire or Overheated?. SSWG5e . Analyze the impact of population growth in the region on both the region and on other regions of the world; include China, India , and Japan . . Quick Overview. Used to have a socialist based economy—moving toward market since 1991

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India’s Economy: On Fire or Overheated?

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  1. India’s Economy: On Fire or Overheated? SSWG5e. Analyze the impact of population growth in the region on both the region and on other regions of the world; include China, India, and Japan.

  2. Quick Overview • Used to have a socialist based economy—moving toward market since 1991 • With the level of growth happening now, India will have the 3rd largest economy by 2050. • 2nd largest workforce in the world • Preferred destination for foreign investors • Bangalore is considered “India’s Silicon Valley”

  3. Increase in Modern Living • Demand for consumer goods has expanded • World's fastest cell phone market • Car sales up 14% per year • Shopping malls • Wal-mart is coming to India • Growing construction industry • Fastest growing demographic—young Indians in their 20s and 30s • Signing bonuses, loyalty bonuses • Consumerist lifestyle often contradicts traditional values

  4. Education’s Role in Economy • India has one of the youngest populations in the world • People are primarily educated in English • Large opportunities for women as well as men. • “A large English-speaking skill base of three million graduates, 700,000 postgraduates, and 1,500 PhDs qualified in bio-sciences and engineering each year are a huge advantage for India.“

  5. IT & Service Industries • Information technology and customer service create the most revenue in India • Only 34% work in service industry but makes 55% of the money in the country. • Outsourcing: when companies choose to have workers in other countries do jobs at a lower rate

  6. Outsourcing • Outsources services: software development and maintenance, back-office operations, medical data transcription and transmission, telemarketing, and other related areas.

  7. Which is the real story?

  8. New Employee Training • Speak “neutral” English and be familiar with American and British accents. • Find an alias • Familiarize yourself with American and British geography and culture. • Be ready to work nights “in this industry, once you speak, you’re not speaking to your own friends only, you’re speaking to a person abroad. Their ideas are different.. so we have to adapt to their ideas, their way of thinking.. we’re in the US right now, we’re not in this place, we’re not in India, we’re in the US… so according to that we’re thinking………. even we get holidays based on them.” -Cheryl

  9. What’s the Downside to Economic Growth? • Unequal distribution of wealth • 71% of Indians are in rural economies • Fewer jobs in the future • Energy needs • Looking into nuclear power

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