I was reading Fortune's article on the issue Oct 29th (Online version) and was amazed that India has a 400 million workforce. Extraordinary Human capital.
Some other amazing numbers:
Internet ad business = $53 million
Puny compared to the $16 Billion US spending- so there is a huge potential here. Google realuzes that and has a huge India presence
Internet Users= 25 million
Cell Phone users = 200 million ( The government expects to have .5 Billion by 2010)
With the dollar value weakening Indian powerhouses are seeking to buy companies. A few months ago Tata motors was mentioned as a possible suitor for Chrysler. Now its going after Landrover and Jaguar from Ford.
Growing up in India I remeber the brands like Imapala were owned by filmstars and it would a couols of months if not years for new music releases to make it to India. Now Indian internet users are probably buying music online.
Thank you Globalization.
Two excellent books on globalization:
The World Is Flat: A Brief History of the Twenty-first Century is a best-selling book by Thomas L. Friedman
The Elephant and the Dragon: The Rise of India and China and What It Means for All of Us (Hardcover)by Robyn Meredith