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June 25, 2001
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Money > Business Headlines > Report June 25, 2001 |
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'India may actually benefit from US slowdown'Sukhjit Purewal
During a press conference on the second day of the conference, Vinod Dham said India is poised to become even more of a significant player in the global IT picture. "Beyond software - complete product design will be done in India," said Dham, vice-president and general manager of the carrier access unit for Broadcom Corporation. Dham said there was no reason that complete chip design can't happen in India. If there is one obvious lesson that has come out of what happened with the exuberance of the Internet economy in the late 1990s, and was repeated all weekend, is that is imperative for a business to keep costs down. As American companies become more vigilant about doing that - it will be attractive to look to a country such as India that has already proven it has a capable IT labour force that can do the same job for less. Already a hot spot for call centers and outsourcing, experts at TiEcon predicted that the engineers of India will soon be doing more than just designing software and responding to requests for technical support. Arnab Chanda, a vice-president and senior communications components analyst with Lehman Brothers, predicted that within the next 10 years India could become a large center of design. One of the most respected venture capitalists anywhere, Bill Draper who was also one of the original 16 TiE charter members, had this piece of advice to entrepreneurs champing at the bit to start their own companies, "Bring India into your plans." His firm, Draper Richards L P, helped fund Sabeer Bhatia's Hotmail and also provided early funds to Krishna Subramanian's company, Kovair. Of course, there are barriers that still remain in India including the need for better infrastructure, more funds and better architecture. But the experts see plenty of evidence for optimism. In his keynote address, Cisco Systems CEO John Chambers said government leaders in India and other countries are finally seeing what IT can do for their economies. YOU MAY ALSO WANT TO READ:
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One of the most interesting thoughts that emerged from the eighth annual TiEcon was the notion that India may reap the bounties of the economic slowdown in the US and the dot-com meltdown.