IT Inc keeps up hiring tempo in US
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 Indiaís outsourcing industry with a proposal of ending tax breaks for companies shipping jobs outside America in his State of the Union speech.
* 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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