For the record, it is not my intent to degrade anyone or any culture in this article. I wanted to make the title intriguing so that people would click my article and read it.
India as we know is a huge nation with over a billion people. It's ranks among the fastest growing economies, it's middle class will soon be larger than the USA according to McKinsey & Company and huge pools of potential discretionary spenders are emerging from a non-existant past-time.
With such a booming economy, many projects within India are being created. Infrastructure improvements, developing retail industries, building new houses, the list goes on. Such tremendous growth, oddly enough, is suggesting that India simply doesn't have a big enough skilled-labor force to handle all the projects. There is a shortage of skilled laborers in India and trainee programs are scurringly popping up in effort to quickly teach people certain specialties. Maybe this shortage of skills explaines why India's rapid growth in recent years is starting to slow down from 9% growth to 7%. I'm not sure though....i'm not an economist (yet). But here's the WallStreet Online Journal article where I got this idea.
(Click here)"
Spending on major infrastructure such as ports, power plants and roads
is projected at more than $60 billion annually for the next six years,
and will require 92 million man years of labor. Even before taking into
account a concurrent boom in industrial, residential and retail
building, that's around 33% more labor than the market can provide
today, according to India's Construction Industry Development Council,
a think tank."
(Click here)For me, it is surprising that India, the second largest country in the world in terms of population, can have a shortage of skilled-workers. I guess this goes to shows that education and other training sectors are lacking and need great improvements. Hopefully things will be done within India's current Five Year Plan, which calls for more inclusive growth among Indians.
India's Planning CommissionThis particular problem had me thinking about the problems that the USA faces with illegal immigrations and job loss. Americans want less immigrants, and India is in need of a bigger workforce. Why not develop a way to move "un-wanted workers" to areas where they are "wanted"?
Many Americans have lost their jobs due to illegal immigration. It's simple....immigrants are willing and able to work for lower wages. This is also taking a toll on the US economy. People are not spending as much as they did before. I don't have stats on me, but I remember news reports saying that consumer spending around xmas time is less successful than in the past.
If immigrants were relocated to places like India, wouldn't that decrease unemployment and create more spending within the US? I presume that many immigrants are sending money outside the US as compared to american citizens.
Maybe I'm suggesting a kind of human trafficing that could actually benefit countries. Of course there are many obstacles. How could this be possible? How would immigrants get to India or even choose it over the states? Who would finance such an activity?
If a solution to answer these questions were to be found, I think the genius would become very wealthy. For me, it's a brainstorming session worth having a coffee over.
