Washington: India on Tuesday expressed hope that the current economic woes in the US would not lead to protectionism and said that concerns of the Indian IT industry over anti-outsourcing measures announced by President Barack Obama recently will be addressed quickly. Foreign Secretary Ranjan Mathai on his first bilateral visit to the US said that the Indian IT industry in the US has contributed $15 billion in taxes alone in...
12:22 AM, Feb 08, 2012
Chicago: The anti-outsourcing measures US President Barack Obama announced last week are unacceptable and will hurt both American and Indian economies, Finance Minister Pranab Mukherjee has said. Talking to mediapersons at the end of a two-day visit to Chicago, Mukherjee said outsourcing of jobs had helped increase the profitability of American companies and any move to discourage such activities would hurt them. Mukherjee's comments on Sunday came after Obama last...
12:47 AM, Jan 31, 2012
Chicago: Worried over the adverse fallout of protectionism, Finance Minister Pranab Mukherjee said on Monday if the US stops outsourcing jobs to India, profitability of both the economies will be hurt. "...if US stops outsourcing jobs from India to some extent profitability of the economies will be affected," Mukherjee told reporters in Chicago. Speaking at the end of a two-day visit, he said that nations were free to adopt policies...
05:30 PM, Jan 30, 2012
US President Barack Obama listed out the achievements of his first term, topping that list the improved state of the economy and the end of the America's most wanted terrorist Osama bin Laden. ...
09:48 AM, Jan 25, 2012
Washington: US President Barack Obama on Saturday said that it was time to focus on "insourcing" and not on outsourcing, which takes jobs outside the country. In the coming weeks, Obama said, he would bring in policies that would discourage outsourcing and would provide incentives to companies that bring back jobs from overseas. "You have heard of outsourcing. Well, this is insourcing," Obama said in his weekly address to the...
05:07 PM, Jan 14, 2012
New Delhi: India on Thursday expressed concern over the proposed US Call Centre Bill but said that it is premature to assess the impact of the decision on the domestic IT industry. A bipartisan bill has been tabled in the US House of Representatives to make companies that move call centres overseas ineligible for grants or guaranteed loans from the federal government, a move aimed at stemming the tide of...
03:35 PM, Dec 22, 2011
Since 1984, a company called PNC has been doing the PNC Christmas Price Index by tracking costs of items mentioned in the folk song The Twelve Days of Christmas. Though light-hearted, it does its research seriously and gives important insights. For instance, when it first started, goods were more expensive, but now services have become more expensive. This year, the CPI made news when, for the first time, the True...
01:58 PM, Dec 22, 2011
Houston: A bipartisan bill has been tabled in the US House of Representatives to make companies that move call centres overseas ineligible for grants or guaranteed loans from the federal government, a move aimed at stemming the tide of jobs heading to nations like India. Introduced by Rep Tim Bishop and Rep David McKinley, the US Call Center Worker and Consumer Protection Act would also put some aggressive mandates on...
11:22 AM, Dec 21, 2011
New Delhi: The question of outsourcing has been a constant irritant between Indo-US economic ties. The issue came up for discussion when Prime Minister Manmohan Singh met US President Barack Obama at Hyderabad House in New Delhi. Following the meeting Singh said, "India is not in the habit of stealing jobs from America." Singh drove home a clear message that outsourcing was a solution to US economic worries. Obama admitting...
10:27 AM, Nov 09, 2010
Mumbai: Concerned over rising unemployment in the US, President Barack Obama on Saturday said outsourcing work to overseas locations like India has cost Americans their jobs. In possibly a heartbreaking statement for the Indian IT industry, which gets over 60 per cent of its business from the US, Obama said, "...there still exists a caricature of India as land of call centres and back offices that costs American jobs. That's...
08:12 PM, Nov 06, 2010
Mumbai: India's outsourcing companies, often blamed for stealing Main Street jobs, want Americans to know: We're hiring in the US. They along with President Barack Obama, who arrives in India's financial capital Mumbai on Saturday, are at pains to reassure the American public that India is here to help the US On paper, the relationship looks great: Two big markets, two democracies, growing trade. In practice, there's a creeping sense...
12:40 PM, Nov 04, 2010
Washington: US President Barack Obama indicated that he was unlikely to accommodate India's concerns about his policy of discouraging outsourcing of US jobs, saying it was his responsibility to support jobs and opportunity for the American people. Obama, who has recently spoken against outsourcing of American jobs to countries like India and offered tax breaks for those creating jobs in the US, was asked whether he would address concerns in...
06:14 PM, Nov 03, 2010
US President Barack Obama has been hitting India where it hurts the most, the outsourcing industry. ...
12:21 PM, Nov 03, 2010
London: Faced with crippling debt expected to cross a trillion pounds next year, the government has ordered a cut on public sector spending. The cuts are expected to rise to 81 billion pounds a year in four years. But as the public sector looks to cut costs, high quality and low cost Indian services for outsourcing could stand to gain. Adam Marshall, Director of Policy and External Affairs, British Chambers...
08:25 AM, Oct 23, 2010
Washington: Senate Republicans successfully blocked the passage of an anti-offshoring bill that would have denied tax breaks to US companies which move jobs overseas. Republicans in a 53-45 vote prevented the bill from overcoming a filibuster. At least 60 votes were needed to overcome the Opposition's obstruction. As per the bill, there will be a ban on government contractors from using American taxpayers' money to move jobs offshore. What is...
09:01 AM, Sep 29, 2010
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