Nearly all the Banking, Insurance, and Government exams have English as an indispensable section. The section checks aspirants’ grasp on a range of factors like vocabulary, grammar, and comprehension. While reading the editorials of a couple of good newspapers is an excellent medium to improve all the three aspects, it becomes at times boring as well. This happens mainly because of two reasons: either the subject is not interesting enough to keep you glued on the article or you stumble across a lot of new and complicated words which you don’t understand. Read the tips to master your vocabulary here.
Generally, it so happens that if there is only one unknown word in a sentence, you kind-of get its sense by reading the remaining sentence. But if there are two or more words placed interwovenly, the sense of the sentence is generally lost and you need to use a dictionary and attempt hard to understand what the sentence is trying to convey. It is for this reason that we have come up with this series of articles to help you out with the senses of the difficult words used in the editorial of reputed newspapers.
New IT dynamics
A tighter H-1B visa regime will, in fact, help Indian IT move up the value chain
The sharp rise in wage costs for Indian IT companies due to an increase in overseas hiring, augurs (be a sign of good outcome; अच्छे परिणाम का संकेत ) well for the sector which has been trying to find a way around tightening H-1B visa (a visa in the United States under the Immigration and Nationality Act that allows U.S. employers to temporarily employ foreign workers in speciality occupations; आव्रजन और राष्ट्रीयता अधिनियम के तहत संयुक्त राज्य में एक वीजा जो अमेरिकी नियोक्ताओं को विशेष रूप से विदेशी कर्मचारियों को अस्थायी रूप से रोजगार देने की अनुमति देता है ) rules. Though the rise in staff costs may look to be a cause of concern in the short term, it could be a blessing in disguise (something that seems bad, but results in something good happening later; परोक्ष रूप से आपको बुरी लगे परन्तु परिणामस्वरूप आपके हित में हो ) in the long run. Staff costs for large Indian IT services companies have gone up by 15-20 per cent in FY 19 as they hired engineers in countries wherever their clients are located. This is being done, especially in the US where tougher immigration (the process of coming to a country in order to live in it permanently; किसी देश में स्थायी रूप से रहने की प्रक्रिया ) laws and tightening visa rules have become a predictable feature of Donald Trump’s Presidency. Over the last four years, there have been several tweaking (small changes; छोटे परिवर्तन ) of H-1B visa rules making it harder for Indian techies to land their dream job. This emanates (originate from; उत्पन्न होना ) from a belief held by the Trump administration that companies are bringing in cheap labour to replace American workers through the H-1B route.
The US issued 10 per cent fewer H-1B visas between October 2017 and September 2018. To fill the gap, IT companies have started hiring locally. Competition from global IT giants such as Accenture, and a workforce dominated by legacy (a system that is no longer used very often, but that is still used by some companies;एक प्रणाली जो अब बहुत कम उपयोग की जाती है, लेकिन वह अभी भी कुछ कंपनियों में होती है ) engineers trained in old technology platforms is holding back Indian IT services firms from making big inroads ( advance at another’s expense; बड़ा अतिक्रमण ) into winning new-age technology projects. In the traditional IT services space, India’s cost competitiveness, which is approximately 3-4 times cheaper than the US, had been the mainstay (something on which something else depends on; जिस पर कुछ अन्य निर्भर हो ) in the global sourcing market. For far too long, some IT services companies have relied on shipping low-cost skilled labour to countries such as the US to drive higher margins.
Thankfully, tougher visa rules are forcing many large Indian IT services firms to change their business model and ramp up (a large increase in activity; गतिविधि में एक बड़ी वृद्धि ) onshore hiring. To cope up with related higher costs, the IT companies are now beginning to move up the value chain in search of higher margins. The earlier business model had led to a situation where Indian IT firms had become the global experts in executing low-value projects. Now they are switching over to new transformational platforms like robotics, artificial intelligence and automation. Indian engineers are also gaining from this shift as companies are investing in reskilling existing workforce to match the requirements of the new technology platforms, helping them to find more meaningful projects in Mumbai instead of implementing an enterprise resource planning (a process used by companies to manage and integrate the important parts of their businesses; कंपनियों द्वारा अपने व्यवसायों के महत्वपूर्ण भागों को प्रबंधित और एकीकृत करने के लिए उपयोग की जाने वाली प्रक्रिया ) software for a client in Chicago. Transformational (able to produce a big change in a situation; एक स्थिति में एक बड़ा परिवर्तन पैदा करने में सक्षम ) business is seeing double digit percentage revenue growth. This switch is great news for the Indian IT industry. Globally, these new technologies are enabling tectonic (having a strong and widespread impact; एक मजबूत और व्यापक प्रभाव ) shifts in systems and processes that require very different capabilities compared to implementing an enterprise resource planning software. Hiring locally also makes the Indian IT companies more nimble (quick in movement; फुर्तीला ) in responding to these opportunities. IT services companies should force a faster transformation in their delivery models to compensate for the increasing wage costs.`
We hope this article would not only help in understanding editorials while you read them, but it would also help you in enriching and augmenting your word-power. Please let us know your thoughts in the comments section below. Wishing you all the best for your preparation!