South Asia, also known as Southern Asia, is the southern region of the Asian continent, which comprises Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka. Some definitions may also include Afghanistan, Burma, Tibet, and the British Indian Ocean Territories. South Asia contains one fifth of the world's population, making it both the most populous and most densely populated geographical region in the world.
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In this Blog entry I’m going to focus on India, due to the fact that is one of the fastest growing economies in the world and how it can be one of the most important economies.
India is the seventh largest nation by area in the world, the second-most populous country with over 1.18 billion people, the most populous democracy in the world and also counts with an strategic position (north-central region of Indian Ocean) to foster and stimulate the transoceanic commerce. It is also located in a zone of multiples resources, and it has qualified labor force to exploit them. This country also counts with demographic factors that can be helpful. Being the world's second largest population, and due to its high birth rate India has a young population compared to most aging nations. It has approximately 60% of its population below the age of 30. This in the future can be an advantage cause, while some of the powerful nations will witness a decrease in workforce in coming decades, India will expect to have an increase [1].
Another factor that is really important is the booming of the economy. It “is currently the world's 4th largest in terms of real GDP (PPP) after the USA, the People's Republic of China and Japan, and the second fastest growing major economy in the world, averaging at an annual growth rate of above 8%” [2]. It is also becoming one of the world's leading producers of computer software and with Research & Development centers it is experiencing a steady revolution in science and technology.
Another factor that is really important is the booming of the economy. It “is currently the world's 4th largest in terms of real GDP (PPP) after the USA, the People's Republic of China and Japan, and the second fastest growing major economy in the world, averaging at an annual growth rate of above 8%” [2]. It is also becoming one of the world's leading producers of computer software and with Research & Development centers it is experiencing a steady revolution in science and technology.
They are also in the process of developing modern mass rapid transit systems to replace its existing system which is seen as inadequate, in order to modernize the existing infrastructure.
About the political aspect, India is the world's largest democratic republic; this has help to improve its relations with other democratic nations and significantly improved its ties with the majority of the nations in the developed world.
About the political aspect, India is the world's largest democratic republic; this has help to improve its relations with other democratic nations and significantly improved its ties with the majority of the nations in the developed world.
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Besides the political and economical factors, India has also cultural aspects that can help them as well to accomplish their target of becoming one of the most important economies. The fact of having a combination within their society, of multiple ethnicities, languages, cultures, religions, ideologies and world view, living together as a melting pot, has produced much cultural influence, and has the potential to re-enforce the massive influence on world culture through modern trends such as entertainment.
It is true that India has a long way to go in order to correct and modernize their country if they want to be the most important economy in the world. But they have in favor the fact that they already realized of this matter and they have begin to correct the deficiencies. Besides, they have the resources and the capacity, to achieve it.
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Case study analysis: “HR Challenges at Computer Age Management Services (P) Ltd.”
1. What do you think are the reasons behind the fast-growth outsourcing industry in India?
Globalization of economies supplemented by technological advances has led to the evolution of the outsourcing industry in India. After the flourishing of information technology (IT) in the late 1990s and 2000s, outsourcing has spread to Indian States. US companies started outsourcing information technology activities to low cost locations in India. Some of the companies also started their offshore facilities in India. The internet business boom is the main drive for this success.
Other important aspects to take into account are India and it skilled human resources, its infrastructure and its climatic conditions. But the main reason of the fast growth in India is because outsourcing is cheaper than outsourcing to other locations in the world.
Vijaya, T.G., D`Netto, Brian and España, Juan. 2007. “HR Challenges at Computer Age Management Services (P) Ltd.” The Management Case Study Journal 7 (2): 41-51.
http://business.gov.in/outsourcing/evolution.php
Other important aspects to take into account are India and it skilled human resources, its infrastructure and its climatic conditions. But the main reason of the fast growth in India is because outsourcing is cheaper than outsourcing to other locations in the world.
Vijaya, T.G., D`Netto, Brian and España, Juan. 2007. “HR Challenges at Computer Age Management Services (P) Ltd.” The Management Case Study Journal 7 (2): 41-51.
http://business.gov.in/outsourcing/evolution.php
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