The US' attempts to block outsourcing work to low cost destinations like India "made no sense" as the future lay in creation of newer jobs through technological changes, a leading American academic has said.\n\n\n\n
More and more companies are opting for outsourcing data centres. Data centre operators are also called managed service providers (MSPs). These MSPs include Reliance Communications (RCom), Tata Consultancy Services (TCS), Bharti, Netcore, and Ctrl S. The biggest outsourcers are enterprises, banks and financial institutions. IT managers in the Asia-Pacific region rely on outsourcing data centre operations more than their peers.
The Promed group manufactures and delivers branded as well as generic pharmaceutical formulations to Russia, CIS, south-east Asian countries, the UK and EU.
Compelled by the pressure to cut costs and compete globally, there is no turning back for the American companies on offshore outsourcing, according to the latest issue of US magazine Forbes.
The survey by PricewaterhouseCoopers and Duke University's Offshoring Research Network stated that the outsourcing industry is transforming due to the emergence of new providers around the world and efforts of existing outsourcers to expand into new markets.
In a discussion paper, the Department of Industrial Policy and Promotion has suggested creation of new service entities to which most of the statutory compliances, under the labour laws for small and medium enterprises, can be outsourced.
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider's closing share price on June 7, 2024.
Infosys Technologies Ltd announced on Tuesday its selection as Best Outsourcing Partner by readers of Waters, a leading publication covering the needs of chief information officers in the global capital market firms.
The global outsourcing market seems to be going through a sluggish phase, showing signs of slowdown, as number of deals signed during the July-September quarter this year dropped to 472 from 503 deals in Q3 2010.
Top five vendors captured more than 50% of the total contract value.
After business, knowledge and legal process outsourcing, the Indian industries are now eyeing 'diagnostics jobs' outsourcing from other countries. According to industry experts, a number of hospitals in the US and Europe are outsourcing laboratory and diagnostic tests to India as it helps in saving cost and money while maintaining quality.
20 Indian companies, including Infosys, Wipro, TCS, made it to the top 100 global outsourcing companies.
The outsourcing industry, which provides services ranging from developing software for overseas clients to managing back office processing of mortgages, has risen to become one of India's main export earners.
'Those trying to use these funds for quick gains should avoid them due to risk of being late to the party.'
State Bank of India, the country's largest lender, is on an outsourcing overdrive. After outsourcing the back-office work in foreign offices, the bank has now decided to rope in external agencies to set up automated teller machines to save on capital expenditure and reduce the rollout time. It plans to initially outsource 500 ATMs to vendors, including original equipment manufacturers.
Outsourcing could be one of the campaign issues.
In the event of the BJP's poor performance in the assembly polls this year and in early 2025, Modi's hold will get further weakened because he will no longer remain the invincible electoral persona tightly controlling the machine at his disposal, asserts Nilanjan Mukhopadhyay.
Net inflows were $18.4 billion for the rolling 12-month period ended January 2024 compared to $32.7 billion for the rolling 12-month period ended January 2023.
The five-year BP outsourcing deal for $1.5 billion (Rs 7,500 crore) is the best piece of news that the outsourcing industry has had since the global recession began. It tells the country that outsourcing, and its companion off-shoring, are here to stay.
Addressing an event in New Delhi, Gen Pande also said the recent global developments have underscored that the security of the nation can neither be outsourced nor be dependent on the largesse of others.
Two senators are probing how Indian outsourcing firms use U.S. work visas, with an eye on new restrictions.
The human resources department is so 20th century. Recruitment has become the next outsourcing frontier. Think India.
Is the only Indian company to receive this recognition, is included due strong growth there.
Many Indian companies provide outsourcing services to various American entities, including large banks and financial institutions.
Seeking to allay fears over the outsourcing backlash, Union Communications and IT Minister Arun Shourie said India's strengths in talent, skill and costs in software service would make it imperative for the companies to outsource to India.
The US is the biggest market for the outsourcing industry.
Chicago-based Tribune Publishing Company is moving work to TCS
Mittal said the US continues to face shortage of IT skills, and expressed hope that there would be comprehensive changes in immigration policy.
If low-paid workers in China and India can sew your clothes, process your medical bills and answer your computer questions, why can't they teach your children, too?
The Reserve Bank of India is likely to formulate guidelines on outsourcing banking activities by July to improve regulatory oversight for risk management of this segment.
Certain changes in the past two or three years could have a long-term structural impact on the IT services market.
After outsourcing its network management and IT operations, Sunil Mittal-owned Bharti Group has given contract of its call centre operations for mobile services to four global majors in a deal, valued cumulatively at Rs 1,000 crore.
Legal research and patent search are the latest in a string of outsourcing items increasingly sent to India.
China and India's advantages such as lower costs and greater market opportunity outweigh the higher risk compared with the more established and mature regulatory regimes of Australia, Japan and Singapore.
Reflecting United States President Obama's consistent refrain in recent weeks while on the stump campaigning for his re-election where he has been railing against the outsourcing of American jobs to China, India, and elsewhere, the national Democratic manifesto unveiled at the Democratic National Convention in Charlotte, North Carolina, has said, "The Democratic Party believes in insourcing so that America can out-build the rest of the world again."
Outsourcing of passport related services -- like issuing of new passports, renewal -- has been given to VFS Global, which would begin its services from April 16.
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