However, not for long because in India I was informed that wages were rising as a rate of 12.9% ... which is the highest in the world (with China at around 9%).
Yeah everytime the government releases a statistic like that, i have a laugh. I don't even know how they manage to calculate that considering 30% of the people live below a dollar a day and huge majority don't declare their incomes to the government.
They also have their domestic economy getting very strong.
You've hit the nail on the head. That is India's biggest advantage.
Plus their software exports are increasing so rapidly, that they might take the front seat in that, which would mean that they will not only export but invent softwares.
They do that even now.
Right now they take orders to create custom made softwares, they are one of the biggest I heard. Its cheaper, reliable and very efficient industry booming in there.
It was certainly booming but now it has stabilized. Have you heard of Bangalore? But in some ways(and ofcourse this is my opinion) the IT sector has screwed up the Indian economy.
However, due to their big poor class (mainly in the villages) ... they are still going to have a low GDP per capita.
True for every BRIC country. Wealth distribution sucks. India is a perfect example of a dysfunctional government and society. Would you belive that we have the highest number of millionaires in the world just after the States? It's criminal to be honest.
Now looking at Poland from there, we have less workforce (obviously), but we have the infrastructure to cater the needs of the western firms.
In my opinion, what Poland really needs are more entrepreneurs ans SME's.