There was a lot of investment or we can say over investment at the times of 1996 in lying up the optical cables under the seas because of the Telecommunications Act and due to the taught that Internet Boom grows indefinitely. Demand was there, but, as anything too much is harmful, similar way, here also, due to over investment, they became useless as its not so increasing as time goes on. Once they are laid and no one can remove them, it lead to cheap telephone calls and after that, dot com bubble, Y2K and other past events like India's brain drain, new Finance Laws by Dr.ManMohan Singh helped it to emerge as the back office for US within a short period of time.
After that, again within few years, it became not just as the place of back office but as the part of their offices. New enterprises, new entrepreneurship ideas helped India to emerge as the Key in the field.
Coming to present, US economic recession, Low fundamentals Stock markets, Economic and Political instability have bad effect on the next generation and also on India majorly, unless, they learn to go for new technologies or ideas. Just within a short span of one year, with India's currency becoming strong, impacted India's IT a lot. Won't that show that still we are dependent? Recent news about cut in salaries won't leave a mark that shows we are still dependent? Isn't look like the over investment on optical fibre in 1996 is getting repeated with IT replacing optical fibre. Sure, looks like, there is going to have a burst or end to the upward trend of salaries. So, shouldn't we learn new things or implement new ideas? If so, what are they?
Please correct me if I'm wrong or not aware of some more facts.