Someone sent the interesting reality of our times. This is attributed to Jonathan Sacks — the Chief Rabbi of UK. This made me think and I am sure so will everyone.
“When everything that matters can be bought and sold, when commitments can be broken because they are no longer to our advantage, when shopping becomes salvation and advertising slogans become our litany, when one’s worth is measured by how much we earn and spend, then the market is destroying the very virtue on which in the long run it depends.”
Tags: virtue, markets, commitments, advertising, values, worth
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The Indian IT and the ITeS (IT enabled industry) hits another major milestone. In fiscal year 2008 (ending March 2008), it is likely to hit revenues of $50 billion. The revenues for the period ending March 2007 was $39.6 billion ($31.4 billion in exports) which indicates that the industry grew by 30% on a year on year basis. (source Nasscom)
Certainly impressive by any standards.
In 2007, the top 3 (Infosys, Wipro and TCS) together accounted for $9 billion while the top 10 IT companies crossed $15 billion. (source Dataquest)
While the growth rates have been impressive, I think the key challenge for the future (as many other observers have noted) is the ability to develop and grow talent. Currently, the industry has to spend a significant money on training and development of new personnel and it is high time that a concerted broad based effort is made by industry, government and academic to solve the manpower crunch.
While Nasscom has repeatedly brought this to the notice of others, there have been little or no initiatives on this front.
Tags: IT, Offshoring, TCS, Wipro, Infosys, software exports, IT services, India exports
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