Peter Drucker, an eminent American economist, who had predicted in the early fifties how computer technology would one day thoroughly transform business, has said India is becoming a powerhouse very fast. "The medical school in New Delhi is now perhaps the best in the world. And the technical graduates of the Indian Institute of Information Technology in Bangalore are as good as any in the world. Also India has 150 million people for whom English is their main language. So India is indeed becoming a knowledge centre," said the 94-year-old guru Peter Drucker in an interview to the latest issue of Fortune magazine.

Forbes recognises India's IT prowess, puts face to it : HindustanTimes.com: "Kiran Karnik, the president of the National Association of Software and Service Companies (Nasscom), is Forbes' Face of the Year 2003. If Nasscom is the self-proclaimed voice of India's IT industry, Karnik is "the man trying to direct the path of the offshoring tsunami", says America's premier business magazine."

In additions :- Forbes puts it: "Despite concerns in the US about unemployment and lost innovation, there is no turning back. The pressure on US companies to cut costs and compete globally is too compelling."

Forbes acknowledges India's strong credentials, pointedly referring to its annual crop of 75,000 IT graduates. Little wonder, IT now accounts for 3 per cent of India's GDP, or $16.5 billion, up from just $1.7 billion nine years ago. And the big driver in all this is exports of software and services to the US.

Forbes says under Karnik Nasscom has been true to its charter of promoting India's technology strength to the world and fostering a business-friendly environment for companies setting up shop in India. Over the past few years, many crucial white-collar tech jobs such as application development, database design, integration and services have moved to India.