NEW DELHI - On the eastern side of Bengaluru, the city sometimes called the Silicon Valley of India, sits a campus housing three cube-like glass buildings. Each is 10 storeys high, with facades glistening in the strong South Asian sun.
While the shift has been underway for years, recent economic data highlight a rapid service-sector expansion that many attribute to the offices known as global capability centres . “Over the years, India moved up the value chain,” he said. But it can’t “take its comparative advantage for granted.” The offices generated about US$46 billion in combined revenue in the fiscal year ended March, more than the output of Nepal.
A software engineer by trade, he still codes from time to time. “What brought us here even two decades back was our ability to get access to technology and talent.”Last year, a mysterious surge appeared in the country’s economic data. Services exports rose to a record for December, leading economists to speculate why.
It was an important moment for a business that’s been in the making for decades. Global capability centres trace their roots to the 1980s, when Texas Instruments Inc established a facility in Bengaluru. Retailer Target Corp is working on new systems for order collection and shipping. At Goldman, engineers have helped develop a trading system called Atlas for quant clients with latency in microseconds. They’ve also expanded a commodities platform called Janus, which provides data analytics.
It’s now home to almost a fifth of humanity, and more than half its population is under 30, with a median age of 28. That compares to 38 in both the US and China. SAP Labs India has a partnership with engineering school Birla Institute Of Technology and Science, Pilani. Goldman runs an annual contest called GS Quantify for students to find solutions to real-world financial problems.“The war for talent definitely exists,” SAP Labs India’s Ms Gangadharan said.
Making the most of India’s demographic advantages “will require significant investments and government attention,” saidMr Partha Iyengar, the country leader for research at Gartner Inc. in India.“Not enough attention is being given to this, given the massive scale of intervention required,” he said. “If that is not done on a war footing, the demographic dividend can very easily and quickly turn into a demographic disaster.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: IndependentSG - 🏆 9. / 63 Read more »
Source: YahooSG - 🏆 3. / 71 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: STForeignDesk - 🏆 4. / 71 Read more »