Tuesday, March 16, 2004

INDIA: Retail magnet?: "Indian workers have been getting U.S. jobs. Now U.S. retailers want to get their money.

"'Because of India's status as a good IT hub for outsourcing by U.S. companies, young Indians between 20 to 24 years old, who ordinarily wouldn't be able to find work easily, are finding jobs with call centers straight out of college. This is a consumer base that typically lives at home, with the family. Now they have disposable income that's totally discretionary and about 20 to 30 percent higher than prevailing wages,' said Manisha Juneja, analyst with Indian retail consultancy KPA-Techpak.

"'What are they spending it on? Food, books, music, cell phones and brand-name clothes. Who's taking note of this? Companies like Tommy Hilfiger,' Juneja said."

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