David Kohler, the group president of that great bath and kitchen appliance maker (and award winner) that goes by his great, great grandfather's name writes from India to say it is booming way beyond software and business process outsourcing. He says it's time for US companies to catch the wave and get into the huge marketplace now.
Kohler is right on. India received more foreign institutional investment in September (we're talking money flowing into stocks) than China. Japan in particular is pouring in funding. Foreign direct investment into Indian companies and their own subsidiary factories is soaring as well.
Design outsourcing is probably one of the big things to happen over the horizon. U.S. corporations might want to take a look at a number of Indian design consultancies that appear to do great work. India's National Institute of Design graduates hundreds of highly trained designers a year. India has a vast manufacturing infrastructure in place--something US and European and Japanese companies are discovering. And design firms such as Elephant Design and Lopez do good work. Outsourcing design to India is going to be big.