The human resource business process outsourcing revenue will reach $46 billion in 2003, an 18 per cent increase over $39 billion in the previous year, according to a Gartner report.
Aided by low labour costs, China has overtaken India as the primary destination of outsourcing and shared services for Asia-Pacific companies -- netting business to the tune of $20 billion, according to accounting firm KPMG.
The unions are planning a major protest in Birmingham on July 27, at National Grid's annual general meeting. National Grid is a leading supplier of gas and electricity in Britain and the northeast region of the US. In an e-mail response to queries from Business Standard, a NG spokesperson said the company already outsources some information services support from India, from companies including Tata Consultancy Services, Wipro and Zensar Technologies.
Meanwhile, the country's apex body Finance Sector Union demanded the federal government to review all bank licensing arrangements to ensure back office jobs stay in Australia. The union's call follows a report that Westpac -- which on Thursday announced a 34.2 per cent jump profit for the six months to March 31 to $2.202 billion -- is expected to shift the work of up to 3,000 of its back-room staff to overseas locations such as India during the next three years.
The contract, which involves upgrade of LIC's front-end IT application programmes to make these accessible through the web, is said to be worth about Rs 200 crore, and will be done over five years. It is understood that most large Indian IT outsourcing companies, including TCS, Infosys and L&T Infotech, had competed for the contract. It was considered prestigious, not because of its size but because it involved a prestigious public sector organisation like LIC.
On a week's visit to India to plan for business in 2009 and also to attend the wedding of India chairman Arvind Sharma's daughter, Tom Bernardin, chairman and chief executive officer, Leo Burnett Worldwide, announced changes in its global leadership council for a tighter integration of Asia Pacific with the Chicago headquarters.
World Bank President James Wolfensohn has said that outsourcing was a natural consequence of the free market and suggested safety nets be put in place to protect those who lose their jobs.
If Obama makes it difficult for U.S. companies to send jobs overseas or hire using H-1B visas, India's huge IT sector could suffer
The Delhi high court has ruled that outsourcing units cannot be clubbed with each other or the company outsourcing work to them for the purpose of Employees Provident Fund.
'GenAI has democratised the AI conversation. I do not know of a single client who is not interested in that conversation.'
The strike has been on for four days at the Nashik centre of the business process outsourcing company, which has a headcount of 23,874.
Joseph Crowley, a visiting US Congressman, has said a New Jersey bill that seeks to ban outsourcing of technical jobs to non-US entities is an unhealthy legislation and such laws will not find favour with other American states.
British students are using Indian expertise in information technology to complete their course assignments by posting them on outsourcing websites and buying the completed coursework.Called 'contract cheating' in academic circles, lecturers in computing department in universities are in a tizzy since such coursework is of high quality and difficult to detect through normal plagiarism detection software.The students pay amounts ranging from 5 to 50 pounds for the complete work
Move to ensure deals do not hit govt licence fees, revenue share.
The 13th Finance Commission has outsourced a major part of the exercise for devising ways to better manage ecology, environment in the North-East to two prominent organisations. The commission has entrusted two renowned institutes of the country -- The Energy and Resources Institute and the Bhopal-based Indian Institute of Forest Management -- with the job to explore ways to better manage ecology, environment and climate change consistent with sustainable development.
"Over the last few decades, revolutions in technology and communication have made it so that corporations can send good jobs wherever there's an Internet connection. Children here in Missouri aren't just growing up competing for good jobs with children in California or Indiana, but with children in China and India as well," Senator Obama said at a campaign rally in Springfield, Missouri.
Political opposition in the US to outsourcing has had many IT service providers in India on tenterhooks for the last three years fearing a policy level decision against it.
Outsourcing IT processes overseas may save money, but...
The Reliance Anil Dhirubhai Ambani Group has awarded a 5-year outsourcing contract to a Delhi-based call centre, Caretel Infotech, a part of Dalmiya group, for about Rs 300 crore.
Riding over lower manufacturing cost coupled with availability of quality manpower with technical capabilities, the Indian pharmaceutical outsourcing industry is expected to reach $2.3 billion by the end of 2010, according to a report.
'We will have a strong exit as our third quarter is strong.'
Alarmed by a report that 1.7 million US jobs may be lost to other countries, particularly to India, American workers, trade unions, local governments and legislators are fighting back to keep jobs at home and prevent outsourcing.
The presence of an engine maintenance, repair, and overhaul (MRO) facility in India could have prevented Go First airline from going "belly up", as sending engines abroad for servicing is not an efficient way to operate a carrier, Piyush Srivastava, senior economic advisor, Ministry of Civil Aviation, said in a statement on Tuesday. On May 3, Go First suspended its flights and filed for insolvency, squarely blaming engine manufacturer Pratt & Whitney (PW) for its cash crunch. The airline claimed that about half of its 54 aircraft were grounded on May 3 due to a delay in the supply of engines by the US-based company. PW has denied the charges.
Independent research firm Forrester Research has in its latest tech market report titled 'US IT Market Outlook: Q4 2008' revised its 2009 US IT spending forecast.
The government should allow private airlines to outsource services like security, ground-handling and engineering to enable them become cost effective, Go Air managing director Jeh Wadia said in Mumbai on Thursday.
Indian CEOs are to be now offered the choice of outsourcing all or part of their managerial responsibilities for a specified period.
Moser Baer found that its outsourcing deal with a US company was the source behind its ascent by 1.8% to Rs 242.90 on BSE in early trades on Wednesday.
This is the third instance when outsourcing of key oversight jobs by global banks to India has come under the regulatory scanner abroad for ineffective controls against suspicious financial transactions.
Industries in Punjab are facing an acute shortage of labourers, most of whom come from other states. In spite of revising the wages of labourers, be it unskilled, semi-skilled or highly skilled, they have found it difficult to solve the problem.
India has the potential to become a major hub for outsourcing computer games, according to a leading IT specialist.
Procurement of food grains is the new sector where outsourcing is soon going to get a foothold.
A large number of management schools in the country have begun outsourcing the process of student placements to human resource consultants. Traditionally, B-schools have an in-house placement team, headed by a faculty member. Several B-schools, on condition of anonymity, confirmed they had hired HR consultancies to find jobs for their students. Many of them also plan to have the agencies help out with placing their students as interns with companies.
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