Essay on India's Strengths in Terms of High-Tech

Essay on India's Strengths in Terms of High-Tech

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India's Strengths in Terms of High-Tech
Strong Economic Growth
India has an amazing rate of growth which has reached to 9% in 2007. The average rate of growth is 7% since 1994. This is an important evidence of the stable development of Indian economy. Also unlike to other developing countries India managed to have a very low rate of inflation which has remained close to 4% since 2000 and has not fluctuated much then. India seems to be one of the safest economic environments for investment when compared to other Asian countries. Moreover India’s imports almost tripled between 2001 and 2005 from $50.1 billion to $138.4 billion, while exports more than doubled, from $43.3 billion to $99.7 billion. Another import point that should be noted is that the growing middle class in India. With the continuous flow of foreign investment and rise of employment opportunities, the middle class has expanded and per capita income has been more than doubled since the mid-1980s. Augmenting purchasing power of the middle class is an attraction to foreign investment.
Low Wages

Sure that the undeniable attraction of India for foreign investment is the low wages. The vast population of India makes it possible to offer a cheap source of workforce in every part of the country. The average salary for all Indian employees working in the high-tech manufacturing sector is $ 120 per month. The average salary for qualified employees in India is $ 180 per month. Starting salaries offered to new engineering graduates range from $350 to $ 660 per month.

English-speaking educated workforce

It can be said that the English speaking, educated workforce is the main strength of India that has attracted the high-tech investment flow to the country in the fi...

... middle of paper ...

...g incentives to infrastructure companies China profits to receive foreign investment that choose better environment and infrastructure facilities.

It seems that the future high-tech wars will be between India and China. India, having experienced the positive effects of high-technology is determined to preserve its position and attract more investment. China, the economic giant of manufacturing industry also aspires to upgrade its image by being a major player in the area of high-technology.

While it is considered that there will be a competition between India and China in terms of high technology, some experts are insisting that there will be cooperation between these two countries. If they are right and we witness a Chinese-Indian economic cooperation in near future, the address of high-technology in Asia or maybe in the world is likely to be India and China.

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