India's Technology Revolution: A Primer

India is now a world leader in the development and manufacture of computer software, internet, and telecommunication products, bringing profits and substantial economic development to some states.

India's software exports grew by 68% in 199899, totaling $2.65 billion. Some $200 million of venture capital is currently available for Indian technology startups. Of particular interest are projects involving wireless and internet technologies and services. Call centers and medical record transcription services are also good bets, owing to India's low-cost, technically proficient, English-speaking pool of skilled workers.

All of India has not shared in this boom, however. Economic growth has been unevenly dispersed. Selected states in the south and west of the country have benefited enormously from the technological revolution. But others have not and they remain largely impoverished.

Over the past year, the Bombay stock exchange has been up more...

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