Question

The economic transformation of India is one of the great business stories of our time. As stifling
government regulations have been lifted, entrepreneurship has flourished, and the country has
become a high-powered center for information technology and pharmaceuticals. Indian companies
like Infosys and Wipro are powerful global players, while Western firms like G.E. and 1.B.M. now have
major research facilities in India employing thousands. India's seemingly endless flow of young,
motivated engineers, scientists, and managers offering developed-world skills at developing world
wages is held to be putting American jobs at risk, and the country is frequently heralded as "the next
economic superpower."
But India has run into a surprising hitch on its way to superpower status: its inexhaustible supply of
workers is becoming exhausted. Although India has one of the youngest workforces on the planet the
head of Infosys said recently that there was an "acute shortage of skilled manpower," and a study
projects that this year salaries for skilled workers will rise fourteen and a half per cent, a sure sign that
demand for skilled labor is outstripping supply.
How is this possible in a country that every year produces two and a half million college graduales
and four hundred thousand engineers? Start with the fact that just ten per cent of Indians get any
kind of post-secondary education, compared with some fifty per cent who do in the US Moreover, of
lithat ten per cent, the vast majority go to one of India's seventeen thousand colleges many of which
are closer to community colleges than to four-year institutions, India does have more than three
hundred universities, but a recent survey by the London Times Higher Education Supplement put only​

Answer 1

Answer:

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