Apr 9, 2011

India Sucks Away Jobs From America

I hope that there is nobody naive enough to believe that India among several other countries (China, Phillipines0 etc.) is not taking away jobs from the United States, as reported recently.  
Based on a survey of 35 CII-India Business Forum member companies, the study concluded that since 2005, nearly two-thirds of Indian companies have added jobs to their US operations.  Together, these 35 companies employ more than 60,000 people across 40 states and the District of Columbia and more than four-fifths of workers at these companies are hired locally.  It also said an overwhelming majority of workers who are employed at these companies are American citizens. India-based companies that have operations in the US have saved 2,585 jobs from being eliminated due to their acquisition of US firms and the value of these acquisitions since 2005 is USD 5.9 billion

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