Indian Outsourcing industry, which converted millions of its talented Indians into becoming truly internationalized personality with very high level of confidence and Indian pride, is perhaps collapsing under the pressure of American Recession.
The industry created sizable employment in India and generated revenue equal to 1percent of Indian GDP.
The addition was made when India badly needed it at its threshold of take off to super economy.
This is in the natural process in economic growth cycle that older super economy supports another economy to grow from baby to adulthood.
China has taken lot of advantage of American Economy into amassing billions of dollars into is coffer and is almost ready to supersede the present super power.
India too has entered into the cyclical phase to move toward a super economic power in the near future.
The only major difference between India and China is the sector of economy through which to acquire this status.
China has shown its superiority in manufacturing and exporting goods at rock bottom prices to Americans and others and India is doing the same by selling the services of its English speaking talented young adults in BPO and KPO sectors.
India need not worry much about the impending recession that has set in today.
This is a temporary phase in the growth spectrum of Indian economy.
India has entered into long term growth cyclical phase in 2003 itself and is going to sustain it for very long period.
The present recession is going to have long term impact on advanced economies such as USA and Japan and not on India and China.
Of course 2009 and parts of 2010 will not prove good for out sourcing industry for Indian business.
The basic reason is the deteriorating economic fundamentals in USA and the commitment of Barrack Obama to keep American employment at an appreciable level at the cost of BPO.
With India entering the growth cyclical phase Indian industries have grown fast and high to attain world scale.
Many industries are becoming multinationals ready to spread far and wide.
This the typical sign of a growing economy in the economic cycle phase.
The advanced economy enters into declining phase and may not be able to maintain its status quo and may give in to the nascent economies, which have entered in to the growth phase.
Several industries in India such as Telecommunication, automobile, oil and Gases are growing gigantic to create opportunities for domestic BPO that may gradually compensate the loss the outsourcing industries are suffering.
The foundation for growth is laid not in one day but for several years.
  Indian Outsourcing industry owe to the English speaking youths for its success.
This foundation was laid in the 19th and 20th centuries during the British rein in India which taught the international language and the fine democratic system to the Indians.
Today Indians are harvesting on this and have been building one of the strongest fortes to compete any one in the world.
Indians are one of the best managers in the world who can enable India to fight the temporary economic nightmare and to reach to the helm.
Indians need to have patience and persistence to fight out to sustain the Resurgent India.