The rhetoric by politicians, labour unions and media against outsourcing of jobs to countries like India is having the opposite effect, as the campaign has opened the eyes of small businesses to the possibilities of offshoring.
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NIIT Ltd has planned to focus on expanding its knowledge solutions business in the US and European markets by cashing in on the growing trend of outsourcing the services of customised content development and training of workforce.
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Brokerage firm Motilal Oswal Financial Services on Monday said it has received the final approval from the Securities and Exchange Board of India to set up mutual fund business in the country.
Standard Chartered Bank, which has completed 10 years in credit card business in India, has introduced an equated monthly instalment card.
At a time when investors are taking a "wait and watch" approach on fresh investment, Tamil Nadu in the past 10 months has signed 63 MoUs, enabling investment worth Rs 19,083 crore. After Palaniswami took over as chief minister in February 2017, cumulative FDI rose by Rs 46,427 crore from Rs 133 trillion (April 2000 to March 2017) to Rs 180 trillion by June this year. Thanks to the Tamil Nadu Business Facilitation Act, 2018, and the single window for applying and getting clearance for doing business, the ease of business issue has been addressed.
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NIIT on Friday said its software business would be spun off by the third week of June and the whole exercise is on course as per its plans.
Network services provider GTL has sold its enterprise network services and managed services business to Orange Business Service, an arm of France Telecom, for about Rs 150 crore (Rs 1.5 billion) in cash.
India is likely to capture 56 per cent share of offshore business process outsourcing business by 2006 with the demand for BPO services increasing at an annual growth rate of 50 per cent during 2004-06
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