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The outsourcing phenomenon is now a yawn yawn issue, but people were puzzled when an advertisement asked for a newspaper journalist based in India to report on the city government and politics of Pasadena, California.
The editor and publisher of the web site paper admitted it seemed strange but said it was entirely possible due to Internet accessibility and good business sense, given India’s lower labour costs.
Critics pooh pooh the idea of a journalist who doesn’t know anything about the area writing about issues such as politics. The web publication has already confirmed the hiring of two Indian reporters both graduates of journalism from the US. Around $10,000 a pop a year for an Indian journalist who submits 15 articles a week, is cheap by US standards
Britain’s Reuters already runs an operation in tech city Bangalore that writes Wall Street stories based on news releases.
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A plutonomy or a society stratified by superwealthy super earners and super consumers is where India is heading.
In a report by a London estate agent to the wealthy, the influx of Indian superwealthy, keen on Britain’s hospitable tax regime, lifestyle and coveted residential areas is most significant after the Russians. The Chinese and West Asians follow on its heels.
London is the most expensive city in the world ahead of Monaco but lags behind other metros in the plutonomies that are emerging rapidly such as Russia and India.
House prices, for instance, in Delhi have jumped 47 per cent and in Mumbai by 44 per cent. The growth of these new plutonomies is expected to continue, with High Net Worth Individual qualifiers being those who hold more than $10 million in investable assets, which excludes primary residences.
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