India on an IT ride?

The Indian Government recently passed the Information Technology Bill which aims at providing legal recognition to transactions carried out through electronic data interchange and other means of electronic communication, commonly known as e-commerce. This Bill is merely an extension of the impact, and importance, IT has had on India. Daily new dotcoms are emerging declaring the impact the internet, however, the question arising is: will India, like other nation-states, be able to sustain growth or are we indeed leading to a ‘shake’ out where only certain companies will thrive while others diminish? And if indeed many others will fail, how will it be determined which companies in this vast connected world will survive?

India, like many developing nations, is establishing itself in the Internet world. With umpteen web site designers, and the lure for a worldwide market, Indian businesses seem to have jumped wholeheartedly onto the dotcom mania. For many this change will involve changing work habits, and now companies have to adjust to a broader market. Will all these factors lead to more globalized world? Are the trends in India, a reflection of what is happening throughout the developing world? Is the Internet a blessing in disguise, finally allowing companies to tap into a global market, and maybe even reversing the potential for exploitation? Will a larger market allow developing nations to have more voice in their future?

For India, in particular, there is yet another twist to this standing saga: workforce. With tempting proposals for the world’s largest pool of engineers from the US, Germany, Japan, France, and others, what will happen to the companies in India? The brain drain, as it is commonly referred to, could potential lead to downsizing of the Indian nation. However, with the power of the Internet and the potential need for Indian software, does India have the potential to use this advantage to its benefit? Is it possible for Indians to mandate investment and development in India? The power of the Internet allows for flexibility in working, will this working arrangement finally allow Indians in India to have their cake and eat it to?