India a Global Economic Super Power - 2208 Words

INDIA A GLOBAL ECONOMIC SUPER POWER New parts of the world that were not long ago considered undeveloped, backwater countries, are now taking center stage in the global economy. Much has been publicized about the ascendance of Chinas economy, as it has become a major venue for the manufacturing of products sought after by worldwide consumers eager for cheaper goods. However, Chinas Asian neighbor, India, also has a vigorously growing economy. Indias economy is partly being fueled by companies around the world seeking to reduce their costs by outsourcing some of their operations there. A March 9, 2005 article in the International Herald Tribune reported that within 30 years, India is projected to have the worlds third largest economy†¦show more content†¦Business Process Outsourcing, or BPO, involves more routine processing of data. Ravi Aron, Professor of operations and information management at the University of Pennsylvanias Wharton School, said examples of BPO involve more routine functions where there is a predefined way of doing tasks or even reaching conclusions, as in data entry, accounts maintenance and customer service activities such as those performed at call centers. BPOs typically provide such services as setting up bank accounts, selling an insurance policy and voice and e-mail-based computer support. Aggarwal said that a higher Level of service than BPO is called Knowledge Process Outsourcing or KPO. KPO involves high-end processes such as investment research and Legal and insurance claims processing. In a March 21, 2005 article in the Indi atimes News Network, Pavan Bagai, Vice President, strategic businesses, EXL said, Imagine unsorted data going through a black box and coming out as useful information. In KPOs the black box is your mind. There is no predefined process to reach a conclusion. In either BPO or KPO, India often offers a huge cost savings potential over those functions being performed by American workers in the U.S. Aron said that in credit card-related functions, the cost of an American worker, including benefits and overhead, rangesShow MoreRelatedEssay about Is India Really and Emerging Super Power?911 Words   |  4 PagesIndia: a land of high human capital, rich culture and a growing economy. Yet, is it, as the topic claims, a growing super power? It is this papers firm belief that India is a rising super power, and will, in a few short years, surpass the USA and China. In this essay, I will explore the relevance of the above statement and evaluate how valid it is. This essays main argument is centred on the society and economy of India. India’s economy is growing strong and at an extremely rapid pace. HoweverRead MoreThe Future Of The Liberal World Order1733 Words   |  7 PagesOrder†, John Inkenberry discusses what he sees as a global shift in power, from the Western and Northern powers such as the United States and Great Britain to the more Eastern and Southern developing states like China, India and Brazil. This potential shift in power has sparked a fear in many people. This fear, as the global power switches from West to East and North to South, stems from the thinking that these new nations that are coming to power will abolish the liberal world order that we all knowRead MoreThe Indian Response to the US Rebalancing Strategy1642 Words   |  7 PagesThe Indian Response to the US Rebalancing Strategy India has been considered as a crucial factor in the US Rebalancing Strategy. On a visit to India, former US Secretary of Defence Leon Panetta referred to India as the ‘lynchpin’ of the US Strategy in Asia. Yet another US government report stated that, â€Å"The United States is also investing in a long-term strategic partnership with India to support its ability to serve as a regional economic anchor and provider of security in the broader Indian OceanRead MoreThe Development Of A Nations Foreign Policy Strategy1078 Words   |  5 Pagesspheres of power and influence develop. One of the most inevitable factors affecting forging policy is location. The development of influence based simply on geographic location has not gone unnoticed from nations participating in global relations. In a consistently turbulent world, nations are constantly realizing their relevance on the world stage. Nations will often realize this relevance and continue to develop it for their benef it and political gain. The intersections of economic, social, politicalRead MoreIndia Super Growing Economic Power1483 Words   |  6 PagesIndia super growing economic power Submitted by: MUHAMMED FAZAL K Preface India is a new emerging economic power in the world. Though the 21st first decade saw a global level financial crisis, India didn’t wilt under its pressure due to it’s the Government’s progressive policies and full-fledged reforms. Particularly, nationalization and liberalisation were the real saviors of India from the recession. Also, the national sectors and global raid helped to maintain the economy in proper way. Read MoreWhat Did The World Economic Downturn Of 2008-09 Boost China s Position As A World Leader?1075 Words   |  5 PagesAssessment 2: CHANGING BUSINESS ENVIROMENT Q1. To what extent did the world economic downturn of 2008-09 boost China’s position as a world leader? A1. China began its 2008, fiscal year with a continuing growth rate in double digits until the Global Financial Crisis struck the world leaving the United States and the Europe economically wounded. Though during the phase it was assumed China would be immune to the GFC, however the banks collapsing in the Europe and the America dragged China into a financialRead MoreThe Effects of Globalization on US Society and Economy Essay1359 Words   |  6 Pages The world we live in today is going through enormous changes in economics, technology, culture, politics, etc. The effects of the changes are not so clear, since it is hard to predict how each sector would affect the other and how society will be affected. However, analyzing past and present occurrences provides some information for experts to interpret society’s reaction in the future to different transformations. Globalization can be seen as a process in which societies aroundRead MoreEffects Of Imperialism On The Indian Economy1449 Words   |  6 Pagesto the Indian Economy In 2015 India was ranked among the highest countries globally in consumer confidence, this comes after the International Monetary Fund estimated an economic growth of up to 7% annually for the next decade in India. But this hasn t always been the case, in fact, it wasn t so long ago that India was simply another colonized nation around the world, not to mention it s usually rare to see this kind of economic growth in such a small period of time. The EffectsRead MoreIndias Nuclear Activity between 1968 and 19981618 Words   |  6 Pageschamber it sees a little sign that says ’only those with economic power or nuclear weapons are allowed.’ I said to him, ’it is very difficult to achieve economic wealth’.† This was said by I.K Gujral, the Indian Prime Minister at the time during a U.N general meeting in 1997. The context and focus of this essay will be India’s nuclear activity between 1968 up until the Pohkran-II tests in 1998. The background element shows that, in 1968, India wanted to protect its own right of experimenting withRead MoreGlobal Future Of The United Kingdom1742 Words   |  7 PagesGlobal look in the next twenty-five years Introduction Power in the global system is relative and always changing. Countries and regions fall and rise mainly due to the unbalanced levels of economic growth, imperial overstretch and wars. Some global regions develop more drastically compared to others due to domestic institutions, policies, effective political leadership, technology and the ability to mobilize state resources that put them at an advantage position over another state and regions.