Indian economy is getting prepared for the eventual realities of Trumponomics. While I sympathize with the 56,000 Indian employees who are about to get laid off by top 7 IT firms, I do not blame the employees. Election of a personality like Trump was inevitable after a successive failure of hollow promises made by career politicians in the US for last 30+ years.
As an Indian citizen and a permanent resident of United States, I can do nothing but sympathize with the Indian IT sector employees who are soon going to get Pink slips from their employers. In year 2014, I authored my first book entitled MASS CAPITALISM: A BLUEPRINT FOR ECONOMIC REVIVAL. In my macroeconomic analysis, I also analyzed about the trade deficits to the US economy from the IT sector companies based in India. Additionally, I also mentioned about the abuse of H1B work visa program by IT Sector companies.
I am not surprised that Trump has made his mandate extremely clear to global economy about America First. In fact, I should let you all know that after release of my book in the U.S. in October 2014, I also visited India and presented to the think tank of Narendra Modi government in Mumbai about what they should expect happening in the US and why they should plan for the survival of Indian economy in the very near future. Well, I wonder if it was the ego about huge election victory of the Narendra Modi government in May 2014 or was it the sponsors of the election of Narendra Modi election and their globalist agenda that my ideas were turned down even after me making an effort to reach the head office of the ruling BJP government in Jan 2015 and providing a pre-published copy of my mentor Dr. Ravi Batra’s 2015 book “END UNEMPLOYMENT NOW: HOW TO ELIMINATE JOBLESSNESS, DEBT AND POVERTY DESPITE CONGRESS” which was released in the U.S. in May 2015.
Although my ideas were not endorsed by the government, I knew that my analysis was accurate and I should try my best to get it out to the media and economic thinkers in India. In this process, I made connections with some of very top intellectuals in India which included Well known authors, Presidential award winners, Dean of top engineering schools, Chairmen of All India Council of Technical Education (AICTE), Top bankers of India, Advisor to the Reserve Bank of India (RBI), Well known Journalists, Well known News Anchors in Mumbai. I went from being nobody in India to a person who started getting recognition for my ideas. Hence, I would actually thank the ruling government for turning down my ideas. Had they not done it, I would not have taken so much efforts to prove myself correct.
If you listen to my interviews that I have given on News channels, Articles that I have authored in some prominent newspapers of India such as DNA Daily and The Economic Times as well as read the reviews of my books published in some newspapers of the country, I would like to point out that whatever has been happening in the IT sector and the overall Indian economy is quite closer to my forecasts made then. If you still dont believe me then please go through all the media coverage as provided on my blog.
As a macro-economist and technologist, I should say that it is very incorrect for the IT sector to layoff 56000 employees. Initially, IT sector made the news that due to Automation and Artificial Intelligence (AI), the IT sector of India is undergoing major restructuring. Now, they are blaming it on US president Donald J Trump. I am a Trump supporter because what President Trump is doing is very necessary for the survival of US economy when it comes to reducing trade deficits of US. There are a certain flaws in his policies but US has been running an unsustainable trade deficits for last 30+ years due to globalization policies endorsed by US based MNCs. This practice has sharply increased poverty and unemployment in the US. Americans have voted Trump to get high paying jobs and lead a good life. In February 2016, when I had interviewed Professor Ravi Batra seeing the rise of Donald Trump, Batra was confident that Trump is going to win the 2016 elections although he had some good things to say about Bernie Sanders too. He disclosed it to me that Trump would win this election when we had a dinner together after LIVE recording the interview at DP TV Studio.
Well, I find it ridiculous that 56,000 employees from IT sector of India are being laid off and the reason being given is poor performance. Well, Poor performance is just an excuse. If there is a poor performance, then I believe that the poor performance is that of the top management of the top 7 IT companies which include Infosys, Wipro, Cognizant, etc. The Top management should have had foreseen this coming long before and that is very reason that they are paid such high salaries to make decisions in the best interest of the employees and of the companies.
While Politicians in India have failed to take my repeated warnings seriously, I wish that atleast IT managers should have taken me seriously. If they did not understand my analysis, I wish they had approached me and read my discussions on several blogs on LinkedIn where I have been pointing the flaws in MAKE IN INDIA policies. In fact, the ex-RBI governor also had mentioned about MAKE FOR INDIA instead of MAKE IN INDIA and the way he was made to resign from his post as governor in spite of being very good at his job, I really started to question the real intentions of the elected government.
I would say that Macroeconomics should be made as one of the core subjects for study in every business school in India. Not only the top management but even the engineers in India should learn about common sense macroeconomics. A good place to start that is my book MASS CAPITALISM as this book has also been cited by Dr. Ravi Batra in his 2015 volume as A WAVE OF THE FUTURE and given me the honor by mentioning me as an engineer-cum-economist in his book. Well, I don’t know any economist in the history of this planet who has authored 6 International Best sellers and hence Dr Ravi Batra is indeed a Legendary author. In fact, the visiting fellow at Harvard University who wrote the foreword for my book MASS CAPITALISM, believes that Dr Batra should have received a Nobel Prize in economics long ago. Please read Prophet of Boom (and Bust) – Now will they listen to Ravi Batra?
Given their lack of understanding of macroeconomics and inability to foresee the coming economic crisis, I believe that the top management of the top 7 IT companies in India should lose their jobs as they really DO NOT deserve that high package for their poor performance. The company stock options that have been given to the top management should be bought back and given to the 56000 employees in proportion to their contribution to the company’s growth. Well, I can write more about it but I have a book to release next year in Mumbai and I have explained this new economic system that would save the layoff of 56000 employees and save Indian economy from a total collapse. Please look forward to read my first book in Marathi language to be released next year through Utkarsha Publications, Pune.
Additionally, I have also put forth a free market economic solution to the crisis of job losses due to AI and automation in my book with Business Expert Press entitled “How the Information Revolution Remade Business and the Economy: A Roadmap for Progress of the Semiconductor Industry“. Please read a review of this book here. There is no need to panic, a bright future lies ahead for the mankind. However, It is important that there should be free market economic reforms for this to happen.
Hope you enjoy this video