Business & Economy

Silicon Valley shifting high-end
product development to India   

What is India News Service, Wednesday, September 15, 2004, 1300 hrs IST


Multinationals have trimmed the fat for years by shifting low-value work to India. Now, slim Silicon Valley start-ups are leading a new outsourcing wave, moving cutting-edge product development to Bangalore and beyond. 

The start-ups have their top managers and sales teams in the United States, but design products in India, where high-tech engineers earn a third of their US counterparts.

Tarapur 4 to go critical in December: The fourth unit of the Tarapur Atomic Power Project (TAPP), Maharashtra, is all set to generate electricity from December with the successful completion of the leak test of its reactor building on September 13. 

Return to stock market, says Chidambaram: Finance Minister Chidambaram urged retail investors to give up their apprehensions about the capital market and return to the stock exchanges through the mutual fund route. 

Tata Indigo Marina launch today: Tata Motors today showcased its new estate, Tata Indigo Marina, at a press-preview at its manufacturing facility here. The Indigo Marina, slated for launch tomorrow, is the fifth model from the company. 

Suzuki's new initiatives raise many eyebrows: Will Suzuki Motor Corporation (SMC) enter diesel engine production on its own? Or will it make its foray through a joint venture? Confusion seems to persist.

Should our lenders run our house, asks Abani Roy: The controversy over the inclusion of World Bank and Asian Development Bank representatives in the Planning Commission's consultative groups continues to rage.

World Bank slams Karnataka power subsidies: Its report points to fiscal leakages and significant weaknesses in local governments \97 both urban and rural. 

IBA working group on tourism: The Indian Banks' Association (IBA) has constituted an eight member working group on tourism industry under the chairmanship of M. B. N. Rao, Chairman and Managing Director, Indian Bank. 

Tiruppur dyers' appeal: The Dyers' Association of Tiruppur has appealed to the Centre to reclassify the `sludge' generated from the effluent treatment plants of the textile processing units as `non-hazardous'. 

Centre releases sugar: The Centre has released two lakh tonnes of sugar as additional quota for indigenous free sale for September.

Women miles ahead in SMS world: Women prefer the short and sweet world of text messaging while men would rather make a phone call.

24/7 Customer expands operations: 24/7 Customer, provider of outsourced contact centre and BPO services to global 1000 companies announced the expansion of its operations in Chennai. It will add 1,000 new jobs in Chennai, over the next 6-9 months. 

Overall:

High end jobs coming to Bangalore: Silicon Valley corporations are bringing cutting-edge product development to India.

Controversy on consultants continued to rage:  Should our lenders be asked to run our house, a critic of the proposal asked.

World Bank slammed Karnataka subsidy: Its report says power subsidies should be discouraged.