IT Inc keeps up hiring tempo in US

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SummaryEven as the US hardens its protectionist stance against outsourcing, top-tier information technology firms are ramping up their presence in their largest market, which contributes close to 65% of India’s outsourcing revenue.

last year, the country’s IT firms are upbeat about opportunities in the US and Europe as all of them indicated a steady deal pipeline and increase in IT spend led by newer technologies like analytics, cloud, mobility and big data.

Some of the colleges Cognizant has visited include Pennsylvania State University, Rutgers, University of Massachusetts, North Carolina State University, Virginia Tech, while the B-Schools list has Kelley School of Business, University of Iowa, Krannert School of Management and others. Cognizant had earlier told FE that it has over 20,000 people in the US while about 75% of its global workforce is based in India.

At the recently concluded Nasscom Leadership Forum 2013, commerce and industry minister Anand Sharma raked up protectionism issue and pointed out that the Washington-based non-partisan organisation Peterson Institute for International Economics had established that Indian companies in the US had invested $172 billion and created 314,000 jobs in the preceding five years.

A recent report by the Tuck School of Business noted that for every job outsourced, two higher-value jobs were created in the US. For 2.8 million jobs that were outsourced by the time the study was completed, over 5.3 million jobs were created, said Sharma. Last week, US President Barack Obama had once again threatened India’s outsourcing industry with a proposal of ending tax breaks for companies shipping jobs outside America in his State of the Union speech.

Sourcing back

* Infosys has been adding 500 staff every quarter in the US and plans to do the same this year too

* Cognizant has over 20,000 people in the US while about 75% of its global workforce is based in India

* Indian cos in the US had invested $172 billion and created 3.14 lakh jobs in the last 5 years

* India has more than 580 offshore development centres in 75 countries, according to Nasscom

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