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Indian IT companies have immensely contributed in the economic growth of USA.
India-based global IT services companies continue to grow as they invest billions of dollars and create jobs across the US.
Moving jobs offshore will remain an attractive option in the U.S. and other developed markets. There are advantages in wages, new markets, new education markets etc.. that far outweigh few thousands of jobs lost.
So says Everest Group and the reason is simply demographic: an expanding supply of cheap labor, especially from India, that could last until 2040 and possibly 2050, Everest says. For India, however, the demand for digital services over other traditional services -- think building an app versus answering a phone -- is making for a painful transition.
As Benjamin Franklin, one of the founding fathers of the United States said, “By failing to prepare, you are preparing to fail.”
“There is no doubt that India is still a a highly attractive and viable option for low-cost labor...and it will likely remain so for another three decades,” Michel Janssen, Chief Researcher at Everest, said. They now think India remains a hub for low cost tech talent way out into the 2040s!
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