Obama Changes His Tune on India Outsourcing
November 15th, 2010US President Barack Obama, who has been openly critical of offshoring to India, seems to have changed his tune during his state visit to the country.
What seems to have changed his mind is the signing of some major trade deals, worth about $15 billion, as an “important step in elevating India to one of the US’ top trade partners. The US president said that the deals with India will create 50,000 jobs back home. The purchase of US Cargo planes by India alone will create 22,000 jobs in America, he added.
Obama said both the US and India were “operating on stereotypes that have outlived their usefulness”, adding “Whenever I’m asked about Indians taking away our jobs, I want to say, you know what? They’ve just created 50,000 jobs.
“US companies are creating jobs with tech in US and Indian businesses will take …
Mr. Obama Goes to Bangalore and the Lesson is “Globalization is a Two-Way Street”
November 8th, 2010BANGALORE, INDIA – In a futuristic lab on a leafy information technology campus, an inventor showed off a power strip that calculates a household’s carbon emissions for the environmentally conscious U.S. market. In a research center nearby, rocket scientists worked on designs for lighter, more aerodynamic wings for Boeing fighter jets.
The engineers at Infosys Technologies, India’s second-largest technology company, are at the cutting edge of the country’s $60 billion IT industry, which is shedding its image as a low-cost call center, with young Indians keeping U.S. credit card and banking systems humming all night.
In the latest phase of globalization, some economists say, Silicon Valley is in danger of losing a sizable piece of its knowledge-based industry to India in much the same way Detroit lost its lead to Japan in the auto industry.
While the United States is …
Obama’s Asian tour: US and India Team Up on Exports
November 8th, 2010President Barack Obama hailed India on Saturday as a vital source of U.S. growth and jobs as his administration announced relaxation of U.S. export controls to spur trade between the two countries.
“As we look to India today, the United States sees an opportunity to sell our exports in one of the fastest growing markets in the world. For America this is a jobs strategy,” Obama said as he kicked off a 10-day tour of Asia.
Obama’s Democrats lost control on the U.S. House of Representatives in congressional elections on Tuesday as voters punished the party for high U.S. unemployment after a campaign marked by criticism of China and outsourcing hubs like India.
Acknowledging that anger, Obama said India was still seen by many Americans as “a land of call centers and back offices that cost American jobs,” but he …
Obama Talks Tough on Outsourcing US Jobs, But the Real Target is US Corporate Subsidiaries
January 28th, 2010SOURCE: NEWS.OUTLOOKINDIA.COM
In a move that could shake the foundations of India’s IT services industry, US President Barack Obama today said he will end tax breaks to American firms that ship out jobs abroad.
“To encourage… Businesses to stay within our borders, it is time to finally slash the tax breaks for companies that ship our jobs overseas, and give those tax breaks to companies that create jobs right here in the United States of America,” he said in his first State of Union address.
A report by IT consultancy firm Forrester Research estimates that 3.3 million American jobs will be lost to outsourcing in 15 years ending 2015. Already, half of the Indian IT-BPO industry’s USD 71.7 billion revenue comes from the US.
According to Gartner, Indian BPO vendors will command 10 per cent of the total global market share by this year end.
Obama said: “Now, the House has passed a jobs bill …
