The lure of the new economy

IBM India's latest addition to its talent pool is Swarup R Choudhury, former manager of corporate finance for HSBC investment bank in India. During his eighteen years at HSBC, Swarup was reponsible for deals such as the acquisition of Glaxo's food division by Heinz, part of Heinz's entry strategy into India, and also Sandvik's entry into the special steels business through an acquisition of Choshi Steel. At IBM, Swarup will be country manager for financial services sector for India.

India has many attractions for new economy workers. There is a government emphasis on economic liberalisation and infrastructure development, coupled with the third- largest English speaking scientific and technical manpower base in the world. This has has created another Silicon Valley in India. And mirroring a world-wide trend, traditional economies in India are losing talent to this new economy.