Business Week reports on the rise of India in the services sector.
Venture capitalists say anywhere from one-third to three-quarters of the software, chip, and e-commerce startups they now back have Indian R&D teams from the get-go. “We can barely imagine investing in a company without at least asking what their plans are for India,” says Sequoia Capital partner Michael Moritz.
Nandan M. Nilekani, managing director of Bangalore-based Infosys Technologies Ltd.: “Just like China drove down costs in manufacturing and Wal-Mart in retail, India will drive down costs in services.”