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5 Mn Americans' livelihood depend on Indian companies
By siliconindia
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Friday, 12 September 2008, 00:27 IST
Chennai/Hyderabad: The Indian firms control the livelihood of many Americans, as around five million of them are employed in the Indian companies in America. Amidst the row over outsourcing in U.S. , concerns on the operations of those Indian companies has propped up.
A report by U.S.-India Business Council (USIBC) and industry body FICCI said that big corporates like Essar, HCL, Tata, Mahindra and Wipro have generated over 30,000 jobs for Americans in recent years. The matter also came into light while U.S. Assistant Commerce Secretary David Bohigan, spoke on the NSG waiver issue, where he mentioned about the dependency factor. The waiver would lead to foster clean energy business for both the countries, thus generating a great number of employment opportunities in the countries.
With the NSG deal being struck the business prospects in the nuclear energy field will touch $100 billion in about 10 years, in India. So, it has captured the attention of many companies in the field. Around 15 U.S. companies dealing in technologies or products related to clean energy are now exploring the possibilities of forming joint ventures, product testing, market research and others in India.
In regard to the nuclear energy works, the setting of new nuclear reactors in U.S. was nil in the past two decades. Bohigan explained the halt to be because of work on new second generation reactors which are more economical and reliable.
