Indian companies have created 60000 jobs in US

Thursday, June 24, 2010

Recently, a report published about the Indian companies which have created more than 60,000 jobs in US. Now, India has become synonymous with outsourcing. The data has been shown of 2004-09 through nearly 500 investment and acquisition deals worth $26.5 billion.

An online news portal about business and economy - economictimes.indiatimes.com has quoted a statement of Obama, “We will stop letting American companies that create jobs overseas take deductions on their expenses when they do not pay any American taxes on their profits.”

Further the news portal quotes a report, “During 2004-2009, 90 Indian companies made 127 greenfield investments worth $5.5 billion, and created 16,576 jobs in the US. Greenfield investments are investments made to start a new venture by constructing new operational facilities from the ground up.”

In the next column, the news portal writes, “The five US industrial sectors that received the most greenfield investment were Metals; Software & IT Services; Leisure & Entertainment; industrial machinery, equipment & tools; and financial services, accounting for almost 80 per cent of total greenfield investment in the US.”

According to the report, “The top three states in terms of jobs created were Ohio, Texas, and California. During 2004-09, 239 Indian companies made 372 acquisitions in the United States.”

According to the news portal, “The report, jointly produced by University of Maryland, India-US World Affairs Institute and Federation of Indian Chambers of Commerce and Industry, gives a comprehensive analysis of America's economic engagement with India during the period 2004 to 2009.”

In the conclusion, the news portal writes, “A 2004 Goldman Sachs report had forecast that nearly six million US jobs would be shifted overseas to low-wage countries like India.”

It is really remarkable news in Indian context. The data is able to say about the character of Indian capitalist. A huge section of Indian capital deals with foreign companies.

Infosys Announces to Hire Over 30000 Professionals

Friday, June 11, 2010

Now, Infosys has planned to hire more than 30,000 professionals this year. It is reported by Kris Gopalakrishnan who is the Chief Executive in Infosys. According to him, IT sector has returned with its boom once again.

About the 30000 professionals hiring in Infosys economictimes.indiatimes.com, an online news portal about economy and business quotes some statements of Kris Gopalakrishnan, “Infosys has a development centre at the Technopark campus here and employs more than 1,500 professionals.”

“Kerala will soon be a force in IT and the need of the hour is good promotion. Every destination has some pluses and minuses and for Kerala the perception that it is not a destination to invest still continues, but the experience of those who have already invested is the exact opposite and hence the state should vigorously promote the advantages.”

“Another great advantage that is unique to the state is ayurveda. And especially for IT professionals, the availability of ayurveda in the state is a huge benefit.”

“The back-office outsourcing arm of Infosys sees faster sales growth in the year ending March 2011, on rising demand from existing clients and new client additions.”

The news portal quotes a data also about the company, “Export revenue from business process outsourcing rose about 6 percent to $14.7 billion in the year ended March 2010, according to IT body National Association of Software and Service Companies. This is seen rising 15-16 percent in the year ending March 2011. Infosys BPO, which was set up as a separate unit of Infosys in 2002 and employs about 16,400 people, plans to add a gross 8,000 staff in the fiscal ending March 2011.”

At last, the news portal writes, “Infosys BPO would continue to look for acquisitions in Europe, the Middle East and Africa, Swaminathan said, adding it would look to buy companies working on human resource outsourcing and sourcing and procurement services.”

Infosys has announced the big hiring of 30000 professionals after the Aegis hiring of 11000 and Wipro hiring of 11000 employments.

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