He notes that India has a stronger tradition of private enterprise, more developed managerial education, better corporate governance, a freer flow of information, a more vigilant investment community, and stronger banking and legal institutions.
The Infosys exec notes that salaries in India are up 13%-15% this year, or about 3%-4% adjusted for inflation.
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Thieves in the U.K. adapted to the blacklist, exporting more stolen phones to places like Africa and India, notes Mr. Wraith.
Despite the wealth of foreign investment in India, Kant also notes that the drive for change is coming from within the country.
The author notes a similar pattern at work among India's newly affluent classes.
Dierstein knows there are other marketplace-style sites like oDesk.com, which pair small businesses with freelancers, but he notes the freelancers are often based in India or Eastern Europe.
He notes that to help offset rising labor costs in India and China, the company is expanding operations in Eastern Europe, in particular in Poland and the Czech Republic, where the company already has about 1, 700 employees.
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"Google's been playing in India and China quite a bit, " notes Venkatesh.
But Choudhury believes there's room for every style and approach, and notes that there's been competitive yoga in her native India for more than a century.
The makings of internal demand are there--as veteran investment bank economist George Magnus notes in his new book about emerging markets, Uprising, India and not China has the highest household savings rate in Asia.
But as Francisco Blanch of Merrill Lynch notes, most of the incremental demand for oil comes from China, India and the Middle East, where the prices of petrol and diesel are subsidised or capped, leaving drivers with little incentive to cut back.
"Microsoft and many other companies realize that since it is, after all, people who use technology, it's critical for the company to understand how people adapt to technology, " notes Kentaro Toyama, who leads the Technology for Emerging Markets research group at Microsoft Research India.
In India, for example, enforcing a simple commercial contract takes 56 procedures and nearly four years, notes the World Bank, while in Venezuela, workers who earn less than 1.5 times the minimum wage can't be fired.
Most of the investments are in production facilities, RNCOS notes, adding that Brazil is likely to evolve into a production hub, becoming tough competition for China and India, and providing a platform for multinationals to develop and sell branded and generic versions of their off-patent medicines into other Latin American markets, if not further afield.
That Asia (from India to Japan) should now be jostling to account for a third of world output is, he notes, neither miraculous (three-fifths of mankind lives there), nor even new.
ECONOMIST: How do books about the future stand up to the test of time?
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