We all are totally aware of what is going on around us in the world. This globalization is pulling down the world; the topic of outsourcing from Indian firms is a hot topic for companies in the outside world. It is the time when you cannot think of just USA who believes in outsourcing jobs at cheaper costs; almost every country is investing in outsourcing services. The advent of outsourcing of jobs in India started long back. Today it stands as the best destination for outsourcing for all technical work, when evaluated with the outsourcing locations in the Pacific Rim, Eastern Europe and Latin America.
Even after so much of hullabaloo against the same, US organizations haven’t stopped shipping of jobs in India. Trade Adjustment Assistance (TAA) showed that outsourcing of jobs from countries like China, India and Brazil have displaced hundreds of local workers. American employees who represent companies like Honeywell, IBM, AT&T and Walgreens have filed petitions for receiving TAA benefits.
TAA is a central program of US Govt. that assists in displacing American workers affected by imports of resources. Consider IBM for example, it has laid off employees in the New York site because of one reason: OUTSOURCING. Few jobs from New York have been shifted to India, Brazil and China, and this was shown in report submitted by the former employees.
With the market not showing such great results, outsourcing by default became the top choice of entrepreneurs; reason being some major cost savings over different projects. Certain measures were taken in the past to completely abolish outsourcing from Indian sub-continent but this could only stop or limit for a certain amount of time.
US Government has shown that the maximum number of visas any country is getting is India. It has received a lion share of all the H-1 visas issued in the States. Statistics show that the percentage of Indians has gone from 58% in 2011 to 64% in 2012. In simple terms, H-1B share is only growing for Asia’s third largest economy mentioned in the immigration bill passed by US Senate passed in this June.
The immigration law though increases the annual cap of H-1B Visa, cost of the visa is raised by few thousand dollars, which has no doubt hit India’s large outsourcing firms. Stricter rules strengthen up to approximately $8 Billion from India’s tottering economy.
Till date, it is still not fixed what the final wordict is going to be like and nobody has a single idea of the future. Everything is unclear because of changing dynamics of technology.