India being one of the fastest growing economies in the world has provided place for various industries and companies with the back up of low cost, highly talented, skilled and creative manpower. As we are hearing that these days’ Indian companies are acquiring foreign companies and they are emerging as Multinational Company’s. India has given birth to thousand’s of strong and well-established trans-national and MNC’s with the GDP growth of around 9% per annum. India has proved herself as one of the fastest growing economy. The Indian companies has given significant share of support.
As there are various sectors functioning in India, each sector has their own requirements and expectations in their manpower. So the criterion’s also different from industry to industry that helps the organization to achieve its objectives with its Human Resources.
India is home to one of the richest and the most ancient civilizations in the world, which existed over 5,000 years ago. India is the origin of many of the ideas, philosophies and movements which have shaped the destiny of mankind.
Any business activity, to be profitable must have the manpower educated, skilled, trained, experienced, hardworking, loyal and INEXPENSIVE.
Modern Indian manpower is all this and more. There are numerous completed projects in Africa and the Middle-East and elsewhere all concrete testimonials to Indian capabilities. An investment in Indian manpower, a profitable option, has always yielded high dividends in projects as far apart as dams and airports, nuclear installations, high-rise structures and power stations, hotels and hospitals. Indian Manpower has passed the acid test of workability, efficiency and dedication.
See Also: Steps in the Financial Planning Process
Indian manpower is amongst the most hard-working and efficient in the world. They combine thorough skill and knowledge with sheer diligence. They are the most mobile workforce in the world. Due to the low pay scales in India, they come at reasonable and very affordable salaries. It is for their mental as well as psychological prowess that they are found in all corners of the world engaged in some productive activity.
In the U.S it is no secret that a major chunk of software, hardware and medical professionals are Indians.
Places like Hyderabad and Bangalore are becoming the nerve centers for the software industry in South-Asia. There are at least 15 software technology parks run by Japanese, US and German firms there. With no dearth of software talent there is a boom in the Indian Software exports industry. There is an increasing trend for big corporate software firms in the West to give sub-projects to Indian firms to decrease their overheads.
India is a geographically diverse country. This has many advantages since the spectrum and scopes of skills available in India are tremendous. There is a homogenous mix of people and trades who excel at their skills due to generations which have worked at the same trades like the Masons of Rajasthan, Carpenters of Gujarat. There is a hierarchy of Refineries and huge petrochemical installations in the South which never fails to produce excellent mechanical / electrical / instrumentation engineers and technicians.
See Also: Importance of Financial Planning
In the recent years India has ventured into oil exploration in a big way. Due to this there are oilfields scattered all over the country. A major portion of the workforce working in the oil-rich nations of the Middle East comprises Indians. After the Gulf war, Indian personnel were in great demand to work on the burning oil wells, in the reconstruction of Kuwait's oil industry. Indian manpower in the last 20 years has had a presence in oil drilling and exploration all over the globe. Due to this, besides local skills there are personnel available with experience abroad as well.
See Also: Basics of Financial Planning
A rich tradition of core math's and fundamental sciences in institutes like the IIT (Indian Institute of Technology), IIM (Indian Institute of Management) and REC (Regional Engineering College) produce technical brains which are comparable to the best in the world.
-38 % of doctors in USA are Indians
-12 % Scientists in USA are Indians
-30 % of NASA Scientists are Indians
-34 % of Microsoft employees are Indians
-28 % IBM employees are Indians
-17 % of INTEL Scientists are Indians
-13 % of XEROX employees are Indians
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