Source:
Economic Times India14 Apr 2008, 0111 hrs IST
BANGALORE: A recession in the US may now be real and official. But irrespective of the downturn, Indian tech enterprises have some reason to smile. A new breed of outsourcers are emerging in the US, who could help Indian providers to offset some of the impact of the recession on their businesses.
These are the thousands of small and medium enterprises that are increasingly waking up to cash in on the outsourcing wave, a market opportunity explored by their big daddies for a couple of decades now.
"SMEs in the US are under severe pressure to increase profitability and business margins. This will force them to outsource and even have M&A arrangements with Indian firms. India is going to be a great beneficiary of this trend. This will substantially offset or minimise the impact of the US recession on Indian industry," said Adam Larkey, partner at Wolet Capital Corporation, a New York-based investment banking firm.
By March 2008, India had received SME outsourcing deals worth $7 billion from the US as against $6.2 billion in the previous year. This is expected to be $8 billion by March 2009 and $11 billion by March 2010. The total outsourcing from the US by that time would be $54 billion.
Read more:
http://timesofindia.indiatimes.com/Business/India_Business/Small_US_firms_to_up_offshoring_to_India/articleshow/2949618.cms
Snip~ "The total outsourcing from the US by that time would be $54 billion."
Us Corporations (big and small) taking away US jobs....one by one. :mad: