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India sacrificed the interest of 99% common Indians for the sake of a few outsourcing oligarchs
The currency differential between Indian Rupees and US Dollar as well as Euro is fueling the unfair trade in outsourcing. Though unlike in China, Indian currency is freely floated in the open market, it is closely guarded by the daily intervention of the Reserve Bank of India to protect a few exporters of the country. Japan has also done the same thing to protect its exporters by buying and selling Yen in massive scale in the open market.
Simply put, India submerged in the greed of increasing Forex Reserves, outsourcing revenues and Foreign Direct Investments have indulged in doing whatever it takes to get more outsourcing contracts. India has sacrificed the interest of rural India as well as those not in IT or call center businesses.
The recent Product Patent bill is a clear example. The left fronts intervention saved the common people of India and also other poorer countries somewhat. Otherwise it was clear sell out of the interest of the people of India for the benefit of a few Indian oligarchs running the country’s Government and making money in Information Technology and call centers.
These oligarchs pay India’s talented youth as little as possible. Engineering students are hired in their early twenties and exploited. They are paid meager salaries compared to international standards. Indian Business Process Outsourcing companies say that India’s standard of living is lower and so these workers are paid less. But that is equally unfair. Currency differentials and lower salary is what makes India a lucrative outsourcing destination.
India has sacrificed the interest of the common Indians while promoting more outsourcing contracts to flow into the country at any cost. This has benefited the rich in the Western nations as well as India. This has jeopardized the interest of common people in the Western nations through loss of jobs. This has also jeopardized the interest of India’s common people especially in the rural sector.
The real India is still in the rural areas. The neglect of the rural sector at the cost of a few outsourcing oligarchs caused BJP the Government. Congress came with a lot of promise for the rural sector. They have proved to be even worse.
OUTSOURCING ARTICLES
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