In recent times, protectionism is being promoted by Western countries. Conservationism is meant to give priority to the companies and citizens of their country as compared to companies and citizens of other countries in terms of business, financial and appointments etc..
This protectionism has seriously affected the Indian IT industry. It is known that Indian IT companies are establishing their name throughout the world due to their specific capability. US First Policy declared by US President is a sample of this conservation.
What kind of challenge has the protectionism against Indian Information Technology companies?
- Efforts are being made to make the H-1B visa rules very hard by the US, which will make it difficult for Indian IT professionals to work in the US.
- The policy of Buy American Hire American is being adopted by the U.S. government, which has greatly reduced the possibility of work for Indian IT companies in the US.
- For companies like TCS, Wipro and Infosys, it has been necessary that if they have to work in the West then they have to be appointed by the local citizens in place of Indians.
- On the condition of appointment of local citizens, Indians have to be removed from the job, and on the other hand, since local citizens have to pay huge amounts, their profits are declining.
- At the same time, artificial intelligence, cloud computing and cutting-edge technologies such as Big Data and Block chain have also caused a crisis in front of Indian Information Technology companies.
What kind of steps should the Indian Information Technology companies take to overcome these challenges?
- India should raise voice from global forums against protectionism, as recently done by the Indian Prime Minister in the World Economic Forum Meeting held in Davos.
- India should take this issue seriously, on the platform like the World Trade Organization, taking together the developing countries.
- Indian companies should explore opportunities in new markets like Africa, Central Asia, and Southeast Asia.
- Indian IT companies should be mastered in new technologies like Block chain, Big Data, Artificial Intelligence. Developed countries will get their services themselves.
Conclusion:
It can be concluded that conservationism and new technological advancement of western countries have created a new challenge for Indian IT companies. By working on the above mentioned measures these challenges can be addressed to a great extent.
