Bad news for India's IT-BPO sector

PRESS TRUST OF INDIA

Washington, Jan 28: In bad news for India's IT-BPO sector, US President Barack Obama today said he will slash tax breaks to American firms that move jobs abroad.
 "To encourage... businesses to stay within our borders, it is time to finally slash the tax breaks for companies that ship our jobs overseas, and give those tax breaks to companies that create jobs right here in the United States of America," he said in his first State of Union address. A report by IT consultancy firm Forrester Research estimates that 3.3 million American jobs will be lost to outsourcing in 15 years ending 2015. Already, half of the Indian IT-BPO industry's USD 71.7 billion revenue comes from the US. According to Gartner, Indian BPO vendors will command 10 per cent of the total global market share by this year end.

Lastupdate on : Thu, 28 Jan 2010 21:30:00 Makkah time
Lastupdate on : Thu, 28 Jan 2010 18:30:00 GMT
Lastupdate on : Fri, 29 Jan 2010 00:00:00 IST



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