India is fast becoming a key source of labor for American tech companies, but with average annual income in the country less than the price of a personal computer, the hi-tech products manufactured by multinationals that have set up shop there remain out of reach for most of the nation.
That reality became more apparent when a major Indian bank last week launched the kind of financing program that in America is ordinarily used for automobile or major appliance purchases. In this case, however, it's for Indians wanting to buy Microsoft's Xbox 360 game system.
India's ICICI bank says it will secure an Xbox 360 Core system for customers for an upfront payment of the rupee equivalent of about $20.00 and six monthly installments of about $73.00. The Xbox 360 Core system ordinarily sells in India for about $518.00.