“The journalists will be responsible for compiling tables, writing short research alerts based on analyst reports, and polling analysts for earnings forecasts.”
While on the one hand I feel that Indians ought to be getting into a diverse set of professions, this back-office type of work may not be such a great idea for any of the parties involved. For one, where will the buck stop when things go awry? Who will fall off this money-tree? I am just afraid that the Indians who sign up will end up getting the short end of the stick; not only will their salaries be lower than their counterparts but they have to also bear the brunt of whimsical fiscal cycles in a country where there are no unemployment benefits. Based on the bottom line, Reuters and others may feel free to hire and fire people, but the jolt to our society will come at much too great a cost. Yes, I know in this case we are talking of “only” 20 jobs. While 20 jobs may not stall an economy, this relationship between Western capitalist interests and South Asians needs to be reexamined.
Didn’t the British come looking for cheaper resources and eventually colonize much of South Asia? While it may be politically incorrect to say so, isn’t the current model of doing business just an avatar of colonization? I am curious to know when we (South Asians) will get off our asses and create a uniquely South Asian model for doing business. Right now it appears all too dictated from the West and that spells trouble. The dependence on an outside entity is always dubious.
It might be appropriate to also point out a July 5 article in The New Yorker that addresses the issues surrounding outsourcing from the perspective of a young tech-worker in Chennai, India.
Prashant – I know you are off to India for a bit, but when you read this, please feel free to comment. And, Vinod, too. I would love to know what percent of India’s economy is dependent on this outsourcing business model (I suspect it is quite small).