The Economic Times is carrying yet another story on the probability of China attracting India's BPO businesses in the next few years - this time, precipitated by the visit of a US congressman, who is "certain" that India is losing jobs to China.
It is not that Indian companies are not aware of the Chinese threat. IT giants like Tata Consultancy Services and Infosys have picked outsourcing to China as a future trend and are hiring Chinese staff and opening branches in China.
By all accounts India and China are the superpowers of the future with Goldman Sachs predicting that even if the Indian economy continues to grow over the next 20 years at just the same pace as it has over the past ten years (about five and a half per cent each year), it will become the third largest economy in the world, after US and China. If it can match China's growth rate (more than seven per cent a year) its economy will, within 50 years, exceed China's and be the world's second largest economy!
2054 is a while away yet..
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