India’s growth story until now, as we all know, has been primarily due to one reason: cheap labor. Infys and Wipros hiring people like ants sort of prove this point. But here’s the catch, to play the cards of human resources, you need a dealer at the other end playing the card of innovation, which developed nations like the U.S. and other European nations did. Not any more.
With recession spreading its wings far and beyond, we stand on a crucial crossroad. One way leads to letting go of this opportunity and consequently spiraling perpetually into being a ‘cheap-labor economy’ while our counterparts like Brazil, China and Russia surge ahead.
The other way leads to shifting the role from a pure human resource treasure to a more pro-innovation role. I use words like ‘more’ and ‘pro’ because the demographics of our nation would never allow us to play a pure innovation role. Nano, is one of the biggest examples in recent times which offer a ray of hope. Companies like Marico and Amul are stepping up the ante as well, buy aren't we way too far to confidently claim that we have taken the right path.
The choice is ours. So are the pay-offs.
