No virtuous circle, or how India’s Silicon Valley is… different

I’ve lived in Bangalore since I was three – we moved here in 1987 after my father retired from the public sector that year. Bangalore, then, was known as a retirement city, famed for its pleasant weather and abundant greenery. The Indian economy was still closed, most of the jobs were in the public sector and salaries were low. Top executives in the public sector earned less than Rs. 60,000 a year – my father retired as the General Manager of United India Insurance, giving me a reference point. At an exchange rate of about fourteen rupees to the dollar, this amounted to around 4200 US dollars a year, give or take. Somewhere around this time was when Bangalore started to be called the “Silicon Valley of India” by the local media.

Read the article: Electric Sheep Blog: No virtuous circle, or how India’s Silicon Valley is… different

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