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U.S. lures Indian IT giants for growth
By siliconindia
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Friday, 24 October 2008, 16:49 IST |
14 Comments
Bangalore: The slowdown saga is proving advantageous for the Indian IT giants with U.S. luring them to set up facilities in its land. "We realize there are opportunities in growing investments in the U.S. from emerging economies like India and China. It is no longer about whether you are an Indian or a Japanese company. What people are interested in is if you are a good company with employee benefits," said Neil Hensley, Senior Director, Economic Development Business Attraction and Retention, Cincinnati USA Partnership.
Infact, the various states of U.S. are competing with each other to win the favor of the IT giants, like TCS and Infosys. The former has finally settled a deal by establishing a 200-acre facility at Cinccinnati. The company has also assured to employ around 700 U.S. nationals within three years.
According to Economic Times, a delegation from the Cincinnati Regional Chamber led by Doug Moormann is on its first visit to India to woo the second-largest Indian IT firm, Infosys Technologies. They have also approached the Tata group and are also striving for leaders in other sectors like in pharma, consumer and auto. "No company that wants to be global can afford to be in one location anymore," says Deher and Harvey J Cohen, attorneys of Dinsmore & Shohl. Through their affiliate law firms in India these attorneys were constantly advising mid-sized firms to acquire and expand in the North American region. This whole effort is made to bring back the Americans to the technical fields, who have left the arena to try their luck in other fields.