President and vice-president elections that are underway have demonstrated two undeniable facts. After three years in power, despite the economy supposedly going through a majorly jobless growth phase, the ruling BJP-led National Democratic Alliance (NDA) is on an expansion spree.
The dramatic downturn in job creation in the IT sector is probably just an indication of the major problem that India is likely to face in the coming years — the problem of jobless economic growth.
Unless Indian information technology (IT) companies innovate and diversify, their very existence may be under threat, given the bouquet of low-end services and software development, which they offer. Most industry biggies have conceded that the golden phase of the IT industry in India may have come to a virtual end. A lot needs to be done if it is to be restored to its glory.