If bill is passed and if such companies are taxed doubled (in US & India), Indian government should give tax benefit to them (waiver or deferral etc.) so that these companies will operate in India and there wont be job loses.
US was going for broke in consumerism. They fuelled Chinese factories & outsourcing, BPOs that benefited us. But anybody who followed the ride, knew the end was near - Armageddon!
US ran up $10 trillion debt. China accumulated $ 1.8 trillion forex reserves & Japan $1 trillion. All these were denoted in US$ & invested mostly in US Tresury bonds. Former Chinese PM Zhu Ronjie was asked why put all in US. His answer-tell me, where else!
US was & still is the engine of world economy -GDP $ 15 trillion. Others like Japan, Germany, China below $ 3 trillion. So the industrial world lived on Uncle Sam's, there is no tomorrow feel & what an appetite? But when the crisis hit, Chinese & others knew the day of reckoning had come. At the G-20 meeting, Obama told President Hu to keep supporting US as otherwise the world order will unravel. But Hu opened up. He cannot accept paper currency with printing presses working overtime to settle the huge debt.
Obama has to find the resources to fund all the excesses of the past & those that funded billions that went to save those, who are too big to fail!
We have to re-invent & re-engineer. No more depending on the crumbs that we became addicted to! We are short of energy. We have to go big on renewables, two birds with one shot - creating jobs for millions, making the villages self-dependent & stop funding terrorism, indirectly. Big time investments in infrastructure like China that can also fuel real jobs! It is time!
i feel this is a guy(oba) who keeps going back on his words. he always talks something and does something else. we call such people as people who were born with slipper instead of tongue in their mouth.
Although the argument based on demand-supply forces in the market goes well, it's high time to consider 'Quo Vadis' on IT for our country rather than be driven simply by fluctuating market forces. In the interest of a long term sustenance, the education on IT and its infrastructure in the country has to be oriented in a more fundamental way. (1) Why should IT be a separate course? Afterall it could to be integrated and taught with every application oriented subject. (2) Rather than address the buisness concern of someone else abroad, why not look for the much needed IT solutions to a number of problems specific to our country. Eg IT for agriculture, IT products for integrating with the dense communications network of this country for several admin and day-to-day chores of people, social security smart cards, e-money etc... all these mean a huge ROI for a country like ours...
Re: IT: Time for course-correction
by sunil kumar on May 14, 2009 07:25 AM
You are somewhat right. As Computer Science in itself is a huge subject involving Artificial Intelligence, complex mathematical analysis to name a few, most IT guys are non-CS engineers who work on an already developed framework and use ready to use APIs. This work will not add value in the future for their career. Instead these guys should focus more on the domain they are working on (like banking, automobile, governance) and try to add value at those side to further their career. Or they will simply become one more project manager instead of domain experts.
dont buy products made by american companies. boycott cars made by GM, Ford etc. dont buy dell, hp laptops/desktops. if they are protectionist, let us retaliate. shun american goods. be Indian buy Indian.
Re: if US is protectionist, we can be protectionist too
by Prasanna Thyamagondlu on May 14, 2009 12:48 AM
Buy indian products designed by reservation quota people? Yep... We will... On the day politicians get operated by reservation quota doctor.
There is no consumer protection laws in India which immunes the private sector.
General public has a distaste for government products which is not so patriotic.
We, the corrupt public, love to fail whatever government efforts to do good things in India some of which is lacking even in developed countries.
People who can demand accountability from government dont use the below facilities.
1) Free healthcare from government hospitals. (middle & rich class dont ever visit there.) 2) Free primary education schools. (Middle & rich class dont send kids there.) 3) Ration shops. (We love to buy in black market.) 4) Government loan schemes. (We expect government to write-off loans.) 5) Free power, free seeds, free fertilizers, free water, freedom to pollute rivers. (We dont ever come out of dependencies.) 6) Reservation for upliftment. (We would like spoon feeding eternally.) 7) Anti-Corruption laws & squads. (We would like to bribe than complain to the law.) 8) Voting rights. (We never want to vote but would like to blame the leaders for being corrupt.) 9) Products from goverment run sectors. (We love foreign stuff from toothpaste to all greatest gadgets at home.) 10) Free community programs, cultural programs, talk show, YOGA, AIR, healthy debates, philanthropy (We would like to turn to masals MTV shows).
Re: Re: if US is protectionist, we can be protectionist too
by bbc abc on May 14, 2009 02:04 AM
this is the most pessimistic guy i have ever seen. are all goolties like this ? fascinated and addicted to stay in US and become blind.
Re: Re: if US is protectionist, we can be protectionist too
by bbc abc on May 14, 2009 02:01 AM
i think this guy is totally out of the times. the age of government held psu is waning. there are enough private sector companies in India. and they make enough products. and there are eastern countries who make products which can easily beat american products. example toyota honda toshiba acer etc. wake up mr prasanna thyamagondlu "the gult maharaaj".
Re: Re: Re: if US is protectionist, we can be protectionist too
by Prasanna Thyamagondlu on May 14, 2009 04:56 AM
BBC / ABC,
Are you ABCD? You assume I am a gult. I sympathise your ignorance bcoz' you think you read a name & assume the person belongs to AP. Thyamagondlu is in Karnataka.
I would appreciate if you could only stick to the issue & not get too personal. You will earn your respect that way.
I am talking about Indian fancy of buying 'foreign stuff', ignoring Indian swadeshi products & good things about Indian government schemes. You are talking about Japanese, Korean products & the subject is protectionism.
Why dont you read & understand before you jump on your keyboard?
Re: Re: Re: Re: if US is protectionist, we can be protectionist t
by bbc abc on May 14, 2009 05:17 AM
sorry for the personal comments. i meant protectionism should b against those who exhibit protectionism against us. we should b more confident about our position in the world. remember what bcci position was in cricket world some 10 years ago. we were pleading against racism of umpires. what are we today. bcci rules. what has changed ? 10 years back we financially contributed lots to icc. today also we do. but today we realized that bcci is the biggest contributor. we realized our strength. we are more confident. even in other areas like products export etc we should b more confident about our position in the world. if they do bad to us we should b ready to pay it back in same coin. p.s i am also from Karnataka.
Re: Re: if US is protectionist, we can be protectionist too
by prakash on May 14, 2009 05:47 AM
I think your message is read wrongly by others... While you intend to propogate some good views, I think the topic you chose to reply was probably not appropriate... I fully agree with you that our Govt is inefficient... But I guess not worth a reply when some one is attacking US protectionistic policy for both are insane...
Re: Re: if US is protectionist, we can be protectionist too
by Matt Hayden on May 14, 2009 02:59 AM
and service tax for everything you listed. ha ha ha
Re: if US is protectionist, we can be protectionist too
by PresidentInWaiting on May 14, 2009 08:18 AM
US is NOT stopping trade with India. They don't want their companies to expand in other geographies, cut in the US and at the same time enjoy tax benefits on income not earned in the US. I think boarders will appreciate the fact that if companies like infy/tcs start cutting in India and expanding in bangladesh, how would we feel. Coming to your point, if they start not using Indian products, just as you are suggesting not to use US products, then we are bound to go back to the age of Mohammad Jalaludin Akbar. Remeber if we follow your principle, we cant even use the computer that you yourself use for blogging, because every computer has "intel inside" and run on Windows.
* N R Narayana Murthy accumulated $1.9 billion till date due to Wage Slavery of Infosys employees. * How much did he invest in agriculture sector where 80% Indians are living?
Re: N R Narayana Murthy is NO idol in India.
by Prasanna Thyamagondlu on May 14, 2009 01:58 AM
His earning is quite modest compared Premji who owns 85% of stake in a public company. Premji has $12 billion plus & I did my part too for 5 years.
NRN could have added farmers (who gave land to Infosys) to the board or constant beneficiaries. NRN is worse than a slum lord considering that he pushed illiterate farmers to slums.
It is shameful that we cant provide free quality primary education.
If Obama is implementing Tax Proposals on its companies investing in India than India in Turn can impose higher tax duties on th US companies vece versa that inturn make the US companies less competator than other Eurpean countries.. tHIS IS THE BEST THING iNDIA CAN DO...for Eg If 20% more tax is imposed on American Products such as Coke than 500ml bottle will cost 25 rs instead of 20 rs. which will make our people to buy local made Thumsup or Limca...for lesser Price....
Re: Tax proposal of Obama and its reply...
by kinky chap on May 13, 2009 11:26 PM
Thums and Limca were looooong back sold off by Parle to CocaCola company. They are now american brands.
