16/12/2019
How India can beat the slowdown?
Let's first understand how the Indian economy started booming. Late 90's many of multinational companies started outsourcing their projects to companies in India. Seeing the success of these projects, many of those multinational companies setup their own offices in India. This brought a lot of money to the young Indians. They started spending these money lavishly thereby spreading that money into other sectors like Automobiles and Real estate.
What happened now? Many and most of these companies have been laying off.. Many of those youth lost their job. Those companies which are laying off are hiring too, but they are not able to find the talent in India. These jobs are moving out of India. Effectively the money is draining out of India and unfortunately nobody is bothered about it.
How to beat the slowdown?
Of the answer is easy.. Get more people employed with decent salary and the economy would again start booming.
Short term: Train engineers on technologies like DevOps (Docker and Kubernetes), Machine Learning, Data science, ML, TOFEL, Medicine, Para medicine and other areas. We should subsidize education.
Long term: Open the market to build these business with in. Have an innovation strategy across sector.