Indian IT industry unperturbed by Bangalore-Buffalo remark by Obama

May 5th, 2009 NEW DELHI - India Inc believes the move by the Barack Obama administration to reduce tax breaks for US firms that ship jobs overseas will hit American companies more than impact on the Indian outsourcing industry. 'It's a more US-US issue rather than one aimed at stopping outsourcing, or off-shoring, or anything to do with India,' said Som Mittal, president of the National Association of Software and Service Companies (Nasscom), a representative boddy for the industry.

May 8th, 2009 BANGALORE - Indian IT firms would not be impacted by the tax reform proposal of US President Barak Obama, Infosys Technologies chairman and chief mentor N.R. Narayana Murthy told President Pratibha Devisinh Patil Friday.

May 6th, 2009 NEW YORK - President Barack Obama's proposal to make tax changes to deter outsourcing jobs to, say, Bangalore is 'antigrowth, job-destroying, protectionist and unlikely to raise the tax revenue', the Wall Street Journal argued Tuesday, while the Los Angeles Times termed it populist. The president Monday said the US tax system is such 'that says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York.' That looks like a great argument for lowering taxes on the firms creating jobs in Buffalo, but that is not what Obama has in mind, the Journal noted in an editorial 'Obama's Global Tax Raid'.

February 25th, 2009 US president Barack Obama has bad news for Indian IT and BPO industry. Its as simple as that.

June 30th, 2009 Yahoo to build data center near BuffaloBUFFALO, N.Y. — Internet giant Yahoo Inc.

June 15th, 2009 NEW YORK - After jokingly comparing America's First Lady Michelle Obama to an escaped gorilla on Facebook, a prominent South Carolina Republican was forced to kill his Facebook page, and apologize. Commenting on a report posted to Facebook about a gorilla escape at a zoo in Columbia, longtime GOP activist Rusty DePass wrote: I'm sure it's just one of Michelle's ancestors - probably harmless." South Carolina political blogger and a former gubernatorial spokesman, Will Folks, busted DePass's remark, which later forced the Republican to apologize.

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 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 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.

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.

January 6th, 2009 BANGALORE - Nasscom, the apex body of the IT-BPO industry in India, expressed its shock Wednesday at the confession made by Satyam Computers' erstwhile chief B. Ramalinga Raju, who admitted to a Rs.40 billion fraud before quitting his post.

May 6th, 2009 BANGALORE - The Indian IT industry is set to witness a single-digit growth in software and services exports in 2009-10 because of global recession and lower technology spending in the US and Europe, a top industry body official said Wednesday. 'Software exports of Indian IT industry are projected to grow in single digit this fiscal due to economic slowdown and lower tech budgets in major markets like the US and Europe.

September 1st, 2009 BANGALORE - Defying the global meltdown, Karnataka earned $17 billion (Rs.74,929 crore) from software exports last fiscal (2008-09) as against Rs.60,800 crore the previous year, registering a 23 percent growth in rupee terms and 21.5 percent in dollar terms. "The export performance of the IT industry in the state, especially Bangalore, demonstrates the knowledge sector remains unaffected by the global meltdown and decline in IT spending overseas," state Information Minister Katta Subbramanya Naidu told reporters here.

June 6th, 2006 IBM is spending 6 billion USD in the next three years to extend and improve its Indian operations. In the last three years IBM has already spent 2 billion dollars 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.