Indian Cos Stepped up U.S. Hiring during Recession: CII

Bangalore: Confederation of Indian Industry has come up with a study that states Indian companies in the U.S. have stepped up hiring in spite of the current economic slowdown.  When compared to the pre-recession period, almost three-quarters of these companies have a higher headcount at present.

A survey was carried out from 36 major Indian companies doing business in the US across a wide range of sectors and the data has been compiled in a report called 'Indian Roots, American Soil: Adding Value to US Economy and Society'.

Though these represent just a small part of Indian companies operating in the U.S., these alone employ about 52,000 workers in the country. More than 70 per cent of these companies have increased staff since 2005, and looking ahead to create another 3,400 jobs this year.

The report also approximates that the surveyed companies saved over 2,000 jobs by carrying out 72 mergers and acquisitions since 2005.  M&As are also expected to create 236 additional jobs this year. The report is the second such survey released by CII.

It is intended to counter public and political perceptions in the U.S. about Indian companies robbing American jobs through outsourcing and bringing Indian workers for their U.S. operations. This is principally important in this election year, as this kind of rhetoric is kicked up a few notches during political campaigns.