Can IT alone sustain the Indian economic growth rate?
I think we all know now that we are now all hit by recession. This has become a global phenomenon irrespective of any industry, country. sector etc. India had been riding on the success of IT for almost a decade. The success of IT and the money power of IT professionals helped many other supporting industries like Hotel, traveling, logistics, catering, housing and construction, apparel etc to thrive and boom. But the basic fact remained that we cannot always continue with that growth rate on the basis of IT service industry. What we should have done was to divert the money generated from IT into revamping core industries, agricultural production, infrastructure development, research and development of new products etc. We needed to become revenue generators rather than just depending on US and European markets to use our IT enabled services. Our government is still a big mess in terms of development and their level is still degrading day by day (They concentrate more on blaming each other for failures, elections and stupid social issues). They are the biggest burden on our country (we are also to blame for allowing them to do it). Except Narendra Modi, not a single Chief Minister has focused in Industrial development.
At the present time of recession, we need to generate jobs inside India, not just in the IT sector (which largely is dependent on foreign markets) but also in non-government and government sectors. We need to bring out a system of inducing educated and experienced professionals in the Government sectors also. There are so many untapped markets inside India which can be utilized. We need to look beyond A level cities & few B level cities, and look at the prospects of overall development. Need to get more VC's and entrepreneurs investing on the development of the real India.
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