Tuesday, March 07, 2006

"Let's stop beating around Bush"

Here is a great article about a good reason why what happened in India last week, happened. I'll copy paste the entire piece in entirety.

In 2004, top-20 contributors to Bush's election campaign included Citigroup, Bank of America, Microsoft, PricewaterhouseCoopers, Merrill Lynch and Morgan Stanley. In 2005, Citigroup India collected $38 million in fees from Indian companies and is now India's second largest investment banking entity (with 25 offices and branches across 18 Indian cities). Bank of America has Continuum Solutions Pvt. Ltd., its wholly owned subsidiary based in Hyderabad, which processes the Bank's back-office operations (Bank of America has moved hundreds of jobs from the UK to Hyderabad).

Microsoft has just one software development centre outside the US and that is in Hyderabad. Microsoft India has presence in Kolkata, Hyderabad, Pune, Chennai, Bangalore, Mumbai and Gurgoan. In 2002, Microsoft committed $400 million for India. In 2005, $1.7 billion was committed.

PricewaterhouseCoopers has offices in Bangalore, Kolkata, Chennai, Hyderabad, Mumbai, New Delhi, Bhubaneshwar and Pune. DSP Merrill Lynch Limited is now India's largest investment banking entity with offices in New Delhi, Mumbai, Kolkata, Chennai and Bangalore. Morgan Stanley runs India Magnum Fund and India Investment Fund.

Besides the top campaign contributors, Corporate America sees India as a strategic partner. Pepsi, Ford, IBM, Kodak, Coca Cola, Microsoft, Motorola, Heinz, Monsanto, Warner Bros, Federal Express, Bankers Trust, Parke Davis, Intel, JP Morgan, Kellogg, Pfizer, Procter & Gamble, American Int'l Group, Exxon-Mobil, Delta, Boston Consulting, Oracle, Unocal, Xerox, Lockheed, Raytheon, Rockwell, Honeywell, Adobe, AES, Alcoa, American Express, Northrop, McKinsey, Amway, Polaroid, Caterpillar, Dell, Sun, Texas Instruments, NCR, Hewlett Packard, Lucent, Novell, Ingersoll-Rand, American Data, MetLife, Cognizant, Caltex, Tenneco, Covansys and Diebold already have offices in Mumbai, Delhi, Bangalore, Hyderabad and Chennai.

US corporate giants are now dependent on Tata Consultancy, Infosys Technologies, Wipro, Satyam Computer Services, HCL Technologies, Patni Computer Systems, Silverline Technologies, Mahindra, Pentasoft, Mascot, Mascom, Mastek, Polaris, L&T and Hexaware (all Indian software giants). Furthermore, US exports to India were up over 30 per cent last year, making India one of America's fastest growing major export markets.

In Washington, the India Caucus has become a lobby to be reckoned with. Out of a total of 435 representatives elected to the 109th Congress around 120 are official members of the India Caucus (the Congressional Caucus on Pakistan claims to have 55 members of which at least 12 are also members of the India Caucus).

From a geo-strategic standpoint, the Pentagon has already moved China from a 'friendly competitor' to a 'strategic adversary'. And, the Pentagon needs India to counterbalance China; a democratic India which could become an economic as well as a military counterweight to China. An India that will also buy billions of dollars of American weapons systems. Deep down, Indian elite also craves to stand up to China and that India cannot do without American help. In effect, Indo-US relationship is economic, political and strategic.

Then there is the 'Great Game in Central Asia' where Russia and China both long for ending America's 'monopoly in world affairs'. The Russia-China axis is propagating the Shanghai Cooperation Organisation (SCO) as a challenge to America's central Asian strategy. The Moscow-Beijing nexus has brought Iran and Uzbekistan under its tent. America is actively courting India (is it courting or is a wedding in progress?) after having brought Georgia, Ukraine and Azerbaijan under her tent. Where does Pakistan stand in this 'Great Game'?

Islamabad is a mere 425 miles from New Delhi but Pak-US relationship is neither economic nor political. In Islamabad, Bush's top-5 agenda items were terrorism, terrorism, cross-border terrorism, non-proliferation and democracy. America sees Islamabad's misnamed 'Constitution Avenue' sitting on top of several fault lines; a civil-military fault line, a fundamental-moderate fault line and a whole host of ethnic fault lines (all besides the tectonic one). For Bush, Islamabad is all about challenges.

America looks at India and sees economic buoyancy-cum-political stability. America looks at Pakistan and finds neither. America looks at India and sees opportunities. America looks at Pakistan and sees nothing but challenges.

Should I be mad at Bush because Bush does not treat us as India's equal?

1 comment:

Vishnu said...

very impressive stats!. I am a notch prouder of being an Indian now than I was before I read this article.