State of Technology Funding in India

If you start a technology company (not the cinema portals, real tech company!) in India today, what are the odds of getting the funding from VCs? Sloka Telecom’s CEO Suraj Karampuri thinks that the chances are very slim. You need to manage to raise the funds from self, friends and family. Suraj gave an interesting interview in which he offers he views on tech start-up scenario in India and funding options for tech companies in India. VCs are more interested in investing in spammy sites like youmint. You can read more from Suraj’s interview here.

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Top 30 Offshoring Destinations

India remains the world leader in offshoring services in spite of economic crisis that affects the whole world. Analyzing 72 offshoring countries, the research firm Gartner has announced its ‘Top 30 offshoring destinations’, where India placed the top followed by China. The report shows that the dynamic nature of the market has seen a number of countries position themselves as credible alternatives to the BRIC nations (Brazil, Russia, India and China). According to the report 10 countries from Asia Pacific were represented in the 30 leading countries. These included the undisputed leader in offshore services, India and the greatest challenger…

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Polio in India?

We forgot the polio long time ago. We think that it’s eradicated from the world. According to polioeradicatio.org, 518 polio cases were detected in this year alone. Google.org launched an initiative to prevent polio. As a part of their initiative, they made “Final Inch”, 38-minute film to spread the message and to highlight the effort to eradicate polio. See the trailer and clipping below. Whether you like Google’s dominance or Microsoft’s dominance, it’s hard not to appreciate the sincere efforts taken by these companies to help the world. There are so many good hearted volunteers that travel the world to…

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American Crisis and Indian Outsourcing

Finally, it hits. American economy crisis has significant impact in Indian IT industry. It’s rumored that Wipro’s chairman Azim Premji asked that toilet paper be rationed in his company’s offices. Salary hikes will be coming down in the years to come. I am not very sure about salary hikes for IT employees, but I can see that dreaded pink slips have arrived in Bangalore and other Indian metro cities. Diwali shopping is not as busy as it used to be. Many people try to take it easy and slow down the spending. I am surprised that real estate prices are…

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India to Ensure Financial Sector Stability

The key issue for India now is to ensure efficient functioning of the financial system and stability of the banking sector, and steps already taken have had a good effect, Montek Singh Ahluwalia, deputy chairman of India’s Planning Commission, said today. “Indian banks are sound, their balance sheets are sound, their exposure to problem assets is almost negligible and they are extremely well capitalised,” he mentioned to Reuters. So far, India weathered the storm. There are no major panic here except the rumors about ICICI bank. Overall, it seems like Indian finance ministry handled it extremely well.

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Fall in Bangalore office space demand by 61 percent

Indian real estate boom is getting busted. India is not detached from global economy. Global economic slowdown is now causing loosing demand for office space in Bangalore. The major portion of the office space in Bangalore is occupied by the IT companies. With the companies have been forcing to review their plans to beat the slowdown, the land absorption by the companies is also coming down. This affects the real estate market of Bangalore and many other cities in India. According to a report by Cushman & Wakefield, a property management consultant firm, the demand for office space in Bangalore…

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Layoffs are coming…

Many Indian companies started laying off people in a low-profile way. No press releases and no media reports. These companies silently let people go. This trend will continue at least for another 6 months until U.S. stabilizes itself both politically and economically. Hexaware eliminated 300 positions recently. TCS, IBM and similar companies let go many people citing poor performance. Companies can’t keep poor performers especially in poor economic environments. Situation in U.S. is deteriorating even more. Some companies convert full time positions to part-time positions. The number of people, whom the U.S. government classifies as working part time involuntarily swelled…

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Houses don’t sell even with FREE CAR!

It looks like housing prices finally start to come down drastically in U.S. For past two years, U.S. was facing housing and sub-prime crisis. Many house owners were reluctant to reduce the home price thinking that some kind of reversal would come up. Many sellers finally realize the extent of the damage done by sub-prime crisis and started to reduce the price. It may be too late, because everyone has the same idea now. Mark and Elaine Hendricks recently offered their 2000 Mustang convertible as a freebie to anyone who would buy their Woodbridge house, but even that failed to…

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Inflation in India

“The most immediate concern at present is inflation,” says Rajesh Chakrabarti, a professor of finance at the Hyderabad-based Indian School of Business. “There is no denying that inflation has gone up much more than what the government would have wanted. In recent years, the government has been very specific in saying that it wants to contain inflation to less than 5%, and now it has gone to 7%. Common man in the street would feel lot more than 7%. Everything is getting more expensive in India. Food, rentals, real estate, toys, even water. Inflation estimates by Economists generally don’t reflect…

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