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Re: Reply to Mr. Rao



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>  >The software industry has the potential to alter the economic
>landscape
>  >of India...
>
>Very true. Only its unclear whether that will happen for the better or
>worse.

All one has to do is look at how the economies of Japan, South Korea,
HongKong, Taiwan, Singapore and more recently, China, were transformed
through export led growth. China, for instance, is creating wealth on an

unprecedented level, with exports of approx. $250 billion and a trade
surplus of $60 billion with the U.S. alone. The Chinese are using this
wealth to create roads, flyovers, telecom infrastructure, upgrade
universities, etc.

Software exports would not only provide Indians with employment, but
would
create wealth which would have a multiplier effect on the Indian
economy, as
in the case of China.  Gradually, the GoI would tax this wealth, and
reduce
its fiscal deficit.  In addition, a country needs to generate a certain
amount of foreign exchange in order to import essential items such as
petroleum.  Without the dollar earnings from software exports, the
Indian
Rupee would continue to depreciate, resulting in inflation.  The result
would be that millions of Indians living on the margin, would slip below
the
poverty line.






>  >The biggest failing of Indians is that we lack the killer instinct.
>We
>  >are great in talking but poor in execution.
>
>I think it's inspite of that. If we were truly great at talking, to
>every
>each other, then both the 'instinct' and the 'execution' would have
come
>
>about. In the example of China, the whole populace there talks to every

>each other -through the totalitarian government- and that makes the
>difference. I am not making any judgement on their unique regime, but
>just
>identifying what I think is a mistake in your proposal. I think we are
>great at execution, only we all do it so individually. Perhaps it is
>best
>exemplified in the software industry itself which is doing well,
>individually, without getting locked-in to the larger local economy.

How does one talk to everybody in a free market society?
The basic premise of a free market society is that the collective wealth
is
maximized if each individual is free to pursue his own happiness
(wealth).

>Thanks.
>
>Padmanabha



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