I have been outside my country for more than four years now. During this time of my departure and from sometime before, I have constantly perceived the notion that India's economical growth has been outstanding and if we can keep up the pace, we may reach to one of the wealthiest county in the planet in next 20-30 years. In last 10 years and so India has indeed made remarkable progress economically and industrially where the globalization movement of India was the first and I believe a major step towards it.
The first US multinational company to enter India was Texas Instruments, back in 1988. They initially faced considerable obstacles as most of the Indians were reluctant to accept the foreign trading once again. Our mentality has changed with time, partially forced by the job deficiency. The foreign multinational companies started to flood into India to take advantage of the cheap professional labor. The globalization begins a new era in Indian industries, not only that we find job in foreign companies but our own companies also find healthy competition and various useful expertise and expenditure.
The Indian companies especially in IT and software has then attributed their superiority to the world. The salary scale of the foreign as well as national industries in India has enhanced by a large degree. Students from Europe and US are going to India for training purpose (for example, IT company Infosys in Bangalore), again evidence for the foreigners seeking professional life in India may not be rare anymore. The Indian companies have shown their guts to extend their branches outside India and more remarkably our companies are buying foreign companies. We can never forget the moment in January 2007 "Tata Steel successfully bid for and completed the acquisition of Corus; a $13 billion deal". Tata led the road, others followed it.
Even under this extreme global financial crisis, our Bombay Stock Exchange index (Sensex) has shown relatively narrower wreckage (compared to some other countries, not with our past), though the effect is huge. But in last 5 years the Sensex remains an increasing pointer.
The call center and various training schools such as GRE, JEE, CAT etc has created vast number of lucrative (temporary) job opportunities for people of any age and sex. I call these jobs temporary as there is no job security for obvious reasons and people especially young generation must not think of settling down there.
I must say something about our recent developments in Bollywood', India's biggest film industry and most probably world's second largest. Even after producing large number of movies and heavy budget ones, 99% of them and more are always able to make their profit. Bollywood has become a very beneficial and less risky account to invest money for the tycoons of any category. The producers do not have to go to the underworld for money anymore. The Hollywood producers like Sony; Walt Disney has immigrated to Bollywood in the production and/or distribution business. As a result, the movies are not anymore oriented with big stars (to avoid risk of flop), rather the new talented and hardworking actors, directors etc are getting breaks in a relatively easier way than it used be before. The movie themes and its quality in execution have made revolutions in this new century.
Our educational system has improved enormously too. Even in small towns like my birthplace, there is increased number of english-medium schools strengthening our educational systems. The existing syllabi and the method of examinations has been or being revised and updated to serve the better. There has been large number of government and non-government institutes for science and technology and in other modern disciplines has been built all around India. I met couple of Indians here in US who received their degrees from such non-governmental institutes. They said that even with such degrees (may be not as valuable as IITs and others), the salary scale they are offered is remarkable. They are even migrating abroad for training and/or professional purpose. The multinational and national companies are now seeking more bright and ambitious people rather than experienced people or people with degrees from high ranked institutions. I can recall couple of my friends who are very successful in their companies even after failing to complete their degree. I see that the younger people are much more careering oriented and focused than we were at their age. They are more hardworking and indeed conscious about the world. I really admire this generation.
We have a newly appointed Indian faculty in our Institute. She was a faculty in Tata Institute for Fundamental Research (TIFR), Mumbai before coming here. I asked her “What is the current research funding situation in India”. She replied ‘fantastic, you will get any amount of money you ask to the government.’ I was surprised to hear that and found it’s quite contrary to what we usually think about India’s education budget. To be honest, I did not believe her initially before she gave some examples. I am now somewhat convinced.
Finally, we have launched Chandrayaan-1 to the Moon, India's maiden unmanned scientific mission to Moon.
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