Latest read: Planet India

India is the second fastest growing economy in the world, second only to their Asian neighbor China.  Both have embraced globalization yet are racing to secure resources as their economies, populations, markets and environments grow out of control.  India has the second largest population with almost 1.5 billion citizens.

My understanding of India’s impact on the global market continues to grow after reading Planet India: How the Fastest Growing Democracy Is Transforming America and the World.  Mira Kamdar’s has hilighted both positive and negative (poverty, piracy and global warming) developments in India.

I’m very impressed by India’s innovation in creating the world’s next motion picture industry.  Bollywood will not compete with Hollywood in America, it will simply run it over as India’s youth overtakes America.  Remember their population is growing and has acquired new-found wealth as a result of globalization.  It is a safe bet their children will be interested in watching movies like American teenagers.

Remember that American movie studios lose over $6 billion annually to piracy and DVD sales.  A lot of animation movie houses have offshored production from America to India.  So if you want to pursue a career in creating major motion picture animations you better understand it could involve relocating to India.  I was also impressed with Kamdar’s interview with an IT consultant from Wisconsin who moved to India to keep a job in the IT industry…something that is really out of the ordinary … for now.

Major American technology companies have made significant investments in India including IBM‘s $6 Billion investment in research while hiring over 43,000 employees in Bangalore. Intel has invested over $1 Billion, and both Cisco and Microsoft have invested over $4 Billion combined.  A quite crisis in America is the growing loss of white collar jobs.  Hint: They have moved to India.

A combined 10 $Billion investment in the high tech city of Bangalore has left a number of American cities and citizens in the dust.  Those companies (and many more) will continue offshoring jobs currently in America to India.

Just as the Chinese have secured America’s blue collar manufacturing jobs, India’s well educated population has secured a growing number of white collar jobs from American companies as salary, health care and production costs have risen out of control.  Remember when New York City was the toy capital of the world and manufacturers held their reseller events at New York’s Jacob Javits Center?  Well those companies have moved to China where today over 3,000 toy companies thrive.  The same lesson is hitting America again.

There is much to learn about the impact of India and Kamdar has done a wonderful job in addressing this for America.  How will American business, education and government leaders respond?