India's global aspirations
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India is often placated as the future powerhouse in global services. What China has achieved in manufacturing is what one expects from India?s service industries, with internationally reputed Indian oftware companies, flourishing call centres and shining five-star hotels often serving as showcases. And it is India?s low labour costs that are often identified as the root of these successes. Labour cost advantages can be leveraged best in services, due to its limited automation possibilities ? vis-a-vis manufacturing. India, with its legions of highly educated English-speaking and success-hungry engineers and economists (besides the legendary entrepreneurial spirit), therefore, seems to be ideally positioned to become a global service powerhouse.