Monthly Archives: March 2011

How China and India will pay your bills

OK, send in the hate mail! I wrote an essay in this week’s magazine on how China and India will come to create jobs for Americans, Europeans, and just about everyone else, not “steal” them, as they are often accused of doing. I know at first reading, such an idea might sound completely ridiculous. China is sucking up manufacturing jobs from around the world. Indian engineers and IT specialists are battling it out with U.S. college grads for jobs in software development and R&D. With wages so much lower in China and India than in the U.S. and the rest of the developed world, how can the average American, Brit or Japanese ever hope to get a job offer?

My argument, however, is that the wealthier China and India become, the more and more jobs they will create globally. That will happen in two key ways. First, Chinese and Indian consumers and companies will become increasingly influential spenders in the world economy, providing new sources of demand and thus jobs. Secondly, Indian and Chinese companies will become ever greater investors around the world as they expand their operations globally, creating jobs wherever they go. I expand on this further in the magazine story, but I wanted to add a few extra thoughts here on how China and India will influence job markets, especially in advanced economies. Continue reading

Meet Naveen Tewari of inMobi

What’s the next big tech startup out of India, now that MakeMyTrip had a spectacular splash on NASDAQ? It could very well be a Kleiner Perkins deal – a made-in-India mobile ad network named inMobi.

What’s unusual about inMobi is the speed this Indian startup has gone global and claimed increasing market share against Google AdMop to become the world’s largest independent mobile ad network. inMobi is a good example of breakthrough startups that are emerging from India for the mobile Internet.

Founded in Bangalore by Harvard Business School graduate and ex-McKinsey consultant Naveen Tewari (see photo) in 2007, inMobi has leaped from India to international markets, deriving  more than 95 percent of revenues from outside India.

This global footprint could come in handy if and when inMobi goes public. Since the company has an offshore holding structure, it can go public first outside India – which likely means a NASDAQ IPO. Continue reading

Ajit Jain on giving. The opposite of his boss. And for a good reason.

Buffett, in India, said people should give. Do you personally follow that, in terms of charity, give away personal wealth?A difficult and personal question and my views have changed somewhat over time. We have a son who’s been diagnosed with a serious illness and before he was diagnosed, I was in favour of the Buffett philosophy. I always felt I have got this fame, this wealth, I didn’t deserve, it doesn’t belong to me. But after my son’s illness, things did change. I didn’t deserve this and he didn’t deserve what he is getting.

So, in terms of my giving, without getting into too much of details of how things have changed, one, we focus on the Foundation that’s trying to find a cure for his illness. Second, I feel guilty, inasmuch as in his earlier life when he was healthy, I wouldn’t let him spend money and have a nice time. So, I have taken a U-turn and now I spend a lot of money and freely.

A difficult and personal question and my views have changed somewhat over time. We have a son who’s been diagnosed with a serious illness and before he was diagnosed, I was in favour of the Buffett philosophy. I always felt I have got this fame, this wealth, I didn’t deserve, it doesn’t belong to me. But after my son’s illness, things did change. I didn’t deserve this and he didn’t deserve what he is getting.

So, in terms of my giving, without getting into too much of details of how things have changed, one, we focus on the Foundation that’s trying to find a cure for his illness. Second, I feel guilty, inasmuch as in his earlier life when he was healthy, I wouldn’t let him spend money and have a nice time. So, I have taken a U-turn and now I spend a lot of money and freely.

Australia’s Victoria police inducts first turban wearing Sikh

MELBOURNE: Police in Australia’s Victoria state today inducted its first officer from Sikh community who will wear a newly designed police turban, a media report said today.

Australia’s Victoria police today inducted its first officer from Sikh community who will wear a newly designed police turban, a media report said today.

The first officer Constable Amitoj Singh who graduated from the Police Academy would wear a newly designed police-issue turban, featuring the service’s checker board pattern. Continue reading

9 out of 10 Indians ready to go overseas for jobs

NEW DELHI: As many as nine out of ten Indian employees surveyed are willing to move out for the right job, with people even ready to relocate to another country or continent, according to Kelly Services.

A survey by workforce solutions provider Kelly Services revealed that 89 per cent of Indian employees were willing to move out for the right job.

Of them, 49 per cent were prepared to relocate to another country or continent to get the job of their choice. About 39 per cent of the respondents were ready to move within the country, the survey, released today, said.

As per the findings, men are more willing to move out than women.

“In an environment where the market for talent is becoming global, there is a growing realisation that many individuals may have to relocate for work,” Kelly Services’ Managing Director Kamal Karanth said. Continue reading

Keep it Simple: Narayana Murthy

I have always said that a good leader simplifies business. It doesn’t matter what business he or she runs. So, I would suggest that we use simple business rules, not complex or compound ones. The good thing about simple business rules is that it is easy to understand, easy to practice, easy to communicate, and you cannot cheat anybody with simple business rules. And you can enthuse every one of your colleagues with simple business rules because there is transparency, there is fairness, and there is accountability.As far as the youth of this country is concerned, I would say that for the first time in the last 300 years, this country has received recognition in the global markets, and received certain respect. This is the time for us to work hard, this is the time for us to work smart and consolidate on the gains. Indians are generally not known to have the killer instinct or not known to run the last mile. Yesterday was a wonderful exception when the Indian cricketers beat the Australians. But that is a rare one.
We have to make it a habit. We have to make it a habit of what Dhoni and others did yesterday. That is make sure that all the good things that they have achieved in the last 10 years becomes a habit. To do that, you need continued discipline, hard work, smartness, integrity and putting the interest of the country above your own personal interest.