"India won't be hit much"
Prominent Silicon Valley V-C Kanwal Rekhi on the US downturn:
On the meltdown: "I am sure this doesn't spell the end of the American Dream. It is, however, an end to the profligate lifestyle that took hold in America because of cheap money. Having said that, the US economy is too strong and flexible to be written off. There is short-term pain ahead as Americans are forced to rediscover frugality. But I see America emerging stronger than ever before."
On India and China: "A US slowdown is likely to hit China hard. India has only 15 per cent dependency on exports, and much of it is high-value-added services. As the US slows down, its companies are likely to outsource even more services. I don't expect a rush of professionals to China or India for jobs. I also don't see India and China reaching the US's level of power and affluence in my lifetime. Americans are too entrepreneurial/competitive to stay down for long."