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The decibel level is increasing in not just the call center canteens. In the build-up to the elections, the corridors of US politics are also abuzz with the apparent threat from the jobs being moved overseas. Dozens of bills have been and will be introduced to prevent outsourcing of federal and local government jobs and to control the latest perceived threats that developing countries seemingly pose to Uncle Sam. If it was earlier against the import of automobiles from Japan, now it is against the export of jobs to India. The champions of globalisation turn weak-kneed when administered some of their own medicine. The trade unions of another country too, on which the sun once never set, are seeing darkness and gloom at these developments. The trade winds that for centuries blew away from India seem to have changed their directions in her favour! It is a different matter altogether that the threat is not real.
A recent McKinsey study shows that for every dollar of job outsourced by the US, the American economy recovers $1.14 out of the $1.49 value created for the global economy. The share of the developing countries is only $0.35. Many sane voices, the most notable being that of Alan Greenspan have reiterated that protectionism is not the answer to this new riddle. Open economies benefit more than closed ones and, as Greenspan pointed out, the US economy has always benefited from "full and vigorous" engagements in the global economy.
While all is not quiet on the western front, we in India must not sit quiet too. While ensuring that enough lobbying and opinion making is done, several things need to be simultaneously done here in India. To start with, de-risk the business by ensuring that we do not depend on one country or region. At the same time, ensure that better domain knowledge and understanding of customer processes help us to move from the peripheral and non-sticky engagement to critical, life-line engagements with the customers.
Of course, the quality of work and productivity will need to be constantly enhanced. Finally, there is the cost factor, which though important, is not paramount. The customers, as I always say, may come for cost, but will stay for quality!
Rahul Swarup
President
Sify Enterprise Solution
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