6 Indian cities among 8 top global destinations for outsourcing

December 28th, 2008 NEW DELHI - Third party logistics outsourcing business in India will grow to $90 million from the present $58 million by 2012, according to a study released Monday. Presently around 55 percent of Indian companies are outsourcing logistic services like supply chain management and warehousing, said the study by the Associated Chamber of commerce and Industry (Assocham).

February 25th, 2009 NEW DELHI - The Federation of Indian Chamber of Commerce and Industry Wednesday expressed concern over US President Barack Obama's statement on ending tax breaks for outsourcing companies, saying 'protectionist measures could deteriorate the situation further'. 'Coming at a time when the global economy is going through a phase of slowdown and when countries need to work collectively, protectionist measures of any kind could deteriorate the situation further,' FICCI said in a statement.

February 25th, 2009 BANGALORE - Indian IT bellwethers Infosys Technologies and Wipro Wednesday expressed confidence that the US would not take any measure that would hurt its global competitiveness. Reacting cautiously to US President Barack Obama's remarks on outsourcing Tuesday, Infosys said outsourcing had enhanced the competitiveness of US corporations and had created more jobs within the US economy.

February 3rd, 2009 NEW DELHI - The Indian software and services industry is expected to grow 16 percent this fiscal and log revenues of $60 billion despite the global slowdown, a top lobby for the industry said Wednesday. The National Association of Software and Service Companies (Nasscom) said together with the business process outsourcing (BPO) sector, the revenues are expected to top $71.7 billion with a growth of 17 percent.

August 6th, 2009 WASHINGTON - The global financial crisis, it seems, has affected the outsourcing of mass from foreign countries to India. Till a few months ago, requests for these so-called "Mass Intentions", or prayers offered for a specific reason, poured into India from the United States, Canada and Europe, where there is a huge shortage of priests.

June 23rd, 2009 Indian outsourcer Mahindra Satyam gets new CEOMUMBAI, India — Mahindra Satyam, a rebranded Indian outsourcing company nearly brought down in a $1 billion fraud, said Tuesday that C.P. Gurnani, an executive from its new controlling shareholder, has been appointed chief executive.

April 11th, 2009 WASHINGTON - India's information technology industry should start hiring in the US to help in its economic recovery as the US is always going to be its biggest market, the industry association's head has suggested. The restrictions on H1B visas in the US 'absolutely is a concern,' Pramod Bhasin, president and chief executive of outsourcing firm Genpact and the new chairman of the National Association of Software and Services Companies (Nasscom), said in an interview with Forbes Asia.

August 19th, 2009 By Arvind Padmanabhan and Fakir Balaji The global slowdown and the financial crisis have ironically whetted the appetite of India's $71 billion outsourcing industry for takeovers, as back-office arms of multinational companies, both large and small, are being acquired by them in steal deals. And much to the delight of Indian buyers, the sellers have almost always awarded multiyear, multimillion dollar contracts to get the same services from them that has insured the jobs of millions of Indian youth.

February 26th, 2009 BANGALORE - Indian IT industry body Nasscom has reacted cautiously to US President Barack Obama's remarks on outsourcing, saying global outsourcing had benefited US firms that generate over 50 percent of their business overseas. 'American companies generate more than 50 percent of their business outside the US.

September 9th, 2009 BEIJING - The Chinese government has pledged more aid from the country's financial institutions to boost its outsourcing industry, officials said Wednesday. In a statement posted on the website of the central bank Wednesday, the government urged the banks to develop more policies and credit products tailored for the outsourcing business, especially for firms in the 20 pilot cities for the industry, including Beijing, Tianjin, Chongqing and Shanghai.

October 19th, 2009 BANGALORE - IT solutions provider MindTree, set up by first-generation Indian entrepreneurs in this tech hub, has been declared Asia's "most admired knowledge enterprise" (MAKE) for the second consecutive year, the company said Monday. MindTree executive chairman Ashok Soota received the MAKE award at the World Knowledge Forum 2009 in Seoul in South Korea last week.

January 11th, 2006 Major Indian outsourcing outfit Infosys Technologies reported on Wednesday a 31 per cent rise in its Q3 net profit, while meeting the expectations for the quarter. The company said that its net profit surged to Rs 642 crore in the quarter ended December 31, 2005, as compared to Rs 496 crore in the year-ago quarter.

October 6th, 2009 IBM signs $200M outsourcing contract with telecomSAN FRANCISCO — IBM Corp. says it has won a $200 million contract to handle some technology chores for a company called Datacom Solutions as it rolls out telecommunications services in India.

February 3rd, 2009 NEW DELHI - The Indian software and services industry is expected to grow 16 percent this fiscal and log revenues of $60 billion despite the global slowdown, a top lobby for the industry said Wednesday. The National Association of Software and Service Companies (Nasscom) said in its report that together with the business process outsourcing (BPO) sector, the revenues are expected to top $71.7 billion with a growth of 17 percent.

September 27th, 2009 NEW DELHI - The third party logistics (3PL) business in India is likely to reach $90 million by 2012 from $58 million now, as the model is fast catching up among the country's businessmen due to its cost advantage, an industry lobby report says. "Currently 3PL outsourcing among Indian companies is estimated at $58 million as 55 percent of them are outsourcing services like supply chain management and warehousing," the Associated Chambers of Commerce and Industry of India (Assocham) said in a paper.