The Rise Of India Kiruba points to this cover story on Business week on how Indian brainpower is reshaping the Corporate America. Definitely a good read and what looks like an unbiased view on Outsourcing. It's not just software now, but much more.
The gains in efficiency could be tremendous. Indeed, India is accelerating a sweeping reengineering of Corporate America. Companies are shifting bill payment, human resources, and other functions to new, paperless centers in India.
Another article talks about how India Is Raising Its Sights At Last. I really like the last paragraph of this article:
India's transformation is still a work in progress. The problems of illiteracy, poor infrastructure, and bad government persist. But something else is there, too: self-confidence. By 2015, 55% of Indians will be under the age of 20, and this generation will have grown up in an economy where roads like the Pune highway are the rule, not the exception. Unlike the generation before them, young Indians are no longer obsessed with India's poverty, but with its future. They give India a fighting chance.