Friday, January 25, 2008

Recession .... what recession?

The media is full of reports on the economic downturn in the US and speculation whether the country is the midst of a recession or on the verge of one. The collapse of the housing market and the sub-prime crisis and the resulting impact are making news headlines daily.

But if you are in India at this time, all of this seems like fiction. All the IT services majors - TCS, Infosys and Wipro have announced 9-month earnings that are exceeding Billions (Yes, with a "B") of dollars and high rates of revenue growth despite a weaker dollar. Housing market is crazy with the demand continuing to skyrocket. Jobs in the IT and ITES sector are plentiful and candidates are few causing double digit wage inflations. Mutual fund investments are giving 50-60% annual returns.

Consequences of a flat world?

Saturday, January 12, 2008

A new day in Bangalore

It's been a couple of weeks since we have moved into our new apartment (sorry, flat) and we have completely adjusted to our new home. The move was easy (since we simply moved next door) and the floor plan is nearly identical. There is no built in furniture like our prior apartment so the place looks a bit bare. We plan to add some furnishings in the coming weeks.

The view from the new apartment is much nicer. The guest bedroom and the children's bedroom face the lake. At this time of the year, the lake is full of water and offers a really nice view in the early morning. During this time, there are plenty of birds such as swans, cranes, herons etc. that would be a bird watcher's delight. Having tea in the balcony overlooking the lake has become a favorite activity for Mona and me.

The city beyond the lake is a densely populated landscape of closely packed buildings. The early morning fog covers the city so it is nearly invisible. It starts to appear magically as the sun comes out.

The morning time also brings with it the street noises of India. Our building is adjacent to a major highway and we hear the noises of the buses, trucks, auto rickshaws early in the morning.

And another day in Bangalore begins.