Dispensing with all the commentary:
The next wave (From the Economist Dec 17, 2005)
Investments in India by Large Corporations
- Microsoft $1.7 Billion over 4 years.
- Intel $1 Billion over 5 years.
- Cisco $1.1 Billion.
The number of people recruited per month by Infosys, Tata, and Wipro: 1000
J.P. Morgan Chase planned number of employees in India: 9000
Exports From India’s IT industry and Business Process offshoring:
2005: $17 billion
2010: $60 billion (estimated)
India’s Market Share:
Offshore IT Services: 65%
Business Process Offshoring: 46%
Amount of Money spent on Legal Services World-wide: $250 billion
Cost per hour for an American Lawyer: $300
Indian firms can reduce legal bills by: 75%
India Produces:
2.5 million graduates per year,
200,000 are engineers.
India has:
28% of the global available workforce,
compared to,
China’s 11%.
Indians working in Business Process outsourcing:
2005: 700,000
2010: 2.5 million (estimated)
Qualified Indian graduates between 2005 and 2010: 1.05 million
The additional amount of office space needed in India by 2010: 14 million sq meters
If you find these tidbits interesting you should read, The World Is Flat: A Brief History of the Twenty-first Century By Thomas L. Friedman.
Tom The Architect 
Very good summary of the facts. It would be great if you commented on the meaning/opinion/inference of it all.
I think that might violate the premise a bit…
K time for a little controversy… Spend anytime managing, leading, or reviewing the work of these offshore Indian teams… You get bonus points if your team members are from the South or from a high caste (lovely system). Either India is very crafty and allocates its worst programmers to US companies (contracted to the largest bank in the country mind you) or we have absolutely nothing to fear from these fearsome 2.5 million graduates. Well, nothing to fear but code reviews and destroyed architectures.
What bothers me the most is that I’ve heard rumblings that certain defense contractors are subcontracting JDAM work to offshore teams in India. I think that India needs to let us test fire a few of these GPS targeted munitions over India. If the US were to ever get into a tangle with India I wouldn’t be surprised if major components of our war machine suddenly decided to take a siesta.