India: The next knowledge superpower.

The article reports that stories began to appear in the international media suggesting that India was "stealing" jobs from wealthy nations, not industrial jobs, like those that had migrated to south-east Asia, but the white-collar jobs of well-educated people. India is now the back office of many banks, a magnet for labour-intensive, often tedious programming, and the customer services voice of everything from British Airways to Microsoft. Over the past five years alone, more than 100 IT and science-based firms have located R&D labs in India. These are not drudge jobs : high-tech companies are coming to India to find innovators whose ideas will take the world by storm. Their recruits are young graduates, straight from India's universities and elite technology institutes, or expats who are streaming back because they see India as the place to be, better than Europe and the U.S.