India Inc tries to counter Obama

New Delhi, Nov. 3: Just days before the visit of the US President, Mr Barack Obama, India Inc has upped the ante on outsourcing by saying that their acquisitions and investments in greenfield projects in the US are providing a huge number of jobs in that country.

“The investments by the Indian companies has created and saved around 65,000 jobs in the US,” Dr Amit Mitra, Ficci secretary-general said in a press conference along with Indian Ambassador to the US, Ms Meera Shankar.

A report by Ficci-Ernst and Young report on ‘Direct Investments in the US by Indian Enterprises’ was released on the occasion. He said that Indian companies have taken up defunct plants in the US and turned them around thus saving thousand of jobs there. The chamber said that most of the investments are not in the services sector for which the Indian firms are being attacked in the US.

A total of 374 acquisitions have been made and 127 greenfield projects have been set up in the US by the Indian investors, said Dr Mitra.

Mr Obama has recently spoken against outsourcing to countries like India saying it results in job losses. Earlier this year, the US government had hiked the fee for H1-B and L1 visas, which could impact the domestic IT industry. Also, Ohio state’s ban on outsourcing of government IT projects, has further irked the IT industry.

Bharti Enterprises vice-chairman and managing director, Mr Rajan Bharti Mittal, who is also Ficci president, said that business is a two way street.

He said that his company Bharti has itself outsourced network management to an American IT company IBM.

Post new comment

<form action="/comment/reply/40341" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: &lt;a&gt; &lt;em&gt; &lt;strong&gt; &lt;cite&gt; &lt;code&gt; &lt;ul&gt; &lt;ol&gt; &lt;li&gt; &lt;dl&gt; &lt;dt&gt; &lt;dd&gt;</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-d5236cf75b6bc42a77a47c4d0fd6e9d4" value="form-d5236cf75b6bc42a77a47c4d0fd6e9d4" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="85599307" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="http://call.nlpcaptcha.in/js/captcha.js" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>

No Articles Found

No Articles Found

No Articles Found

I want to begin with a little story that was told to me by a leading executive at Aptech. He was exercising in a gym with a lot of younger people.

Shekhar Kapur’s Bandit Queen didn’t make the cut. Neither did Shaji Karun’s Piravi, which bagged 31 international awards.