Today I am here give facts & figure that how emerging world something that is comparable to the rich world. Developing world are becoming the hot bed of innovation .They are coming with new product & services which are dramatically cheaper than the developed world. All are working with new business model from supply chain to recruitment & retention are being reinvented in one to another emerging market.
Till now the countries known as cheaper hands are now becoming the innovation hub. Why? The reason behind is that small/local campiness start looking bigger dreams. The United Nations World investment Report calculates that there are now around 21,500 multinationals based in the emerging world. The number of companies from India, China, Brazil & Russia on the Financial Times 500 list more than quadrupled in 2006-08, from 15-62. Multinationals expect about 70% of the world’s growth over the next few years come from emerging markets, with 40% coming just two countries, China & India.
Because they (China & India) pouring the resources in education, as China produces 75,000people with higher degrees in engineering or computer science and India 60,000people every year. The world’s biggest multinationals are becoming increasing happy to do their R&D in emerging market.
Knowledge intensive companies such as IT specialist and consultancies have coming to emerging countries. For example, a quarter of Accenture’s workforce is in India. There is huge opportunity because there is large population, growing very fast in China & India, hundreds of millions of people will enter the middle class in the coming decades. Brain power is relatively cheap & abundant: in china over 5million & in India 3million people graduate every year, four times & three times the number a decade ago. Until now, it had being assumed that globalization was driven by the west & imposed on the rest. But now scenario has changed after 2008 world economy recession.
