Global outsourcing benefited companies in USA: NASSCOM
Feb 28
Posted: under Outsourcing.
Tags: Barack Obama, construction, Manufacturing, NASSCOM, Retail
Indian IT industry body NASSCOM has reacted cautiously to US President Barack Obama’s remarks on outsourcing, saying ‘global outsourcing had benefited US companies that generate over 50% of their business overseas’.
NASSCOM president Som Mittal also told ‘American companies generate more than 50 percent of their business outside the US. Their workforce is global. To be globally competitive, they also depend on globally shared services, Obama has, in fact, supported the need to avoid protectionism. We have to see how he would prevent job losses without resorting to protectionist measures’
Citing the latest US state department data on employment, Mittal said job losses in construction, retail and manufacturing were more than in services, especially in the IT space.
He also said ‘Compared to other sectors, job losses in the US tech sector were 2.2 percent as against the overall unemployment rate of 7.2 percent. The US administration will not do anything that would harm its industry or economy, which is driven by the technology leadership its companies enjoy,’
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