Group items tagged

"Obama's $787 billion stimulus plan will make it increasingly difficult for U.S. companies receiving bailout money to hire foreigners on temporary work permits known as H-1B visas. The budget the President recently presented may also make it harder for U.S. companies that send jobs overseas to receive tax benefits. " "At a time when nearly 5 million Americans have applied for unemployment benefits and another 1.7 million are working part-time jobs because they can't find full-time work, immigration and outsourcing have become key political issues in the U.S. "

In Comments: At 9/16/2009 11:52 AM, Blogger M T said... "I don't know why people scream at India when they talk about jobs and outsourcing (I was disgusted to see some comments to this post from learned readers of Carpe Diem). Check these facts: Infosys and Wipro offer services in US. But companies like PWC and IBM offer services in India. The magnitude of services offered by US companies in India is more than what Indian companies offer in US. According to Office of the US Trade Representative "Sales of services in India by majority U.S.-owned affiliates were $4.2 billion in 2006 (latest data available), while sales of services in the United States by majority India-owned firms were $3.1 billion." FDI Flows from US to India is to the tune of $10.6 Billion (net flows). Again this is because companies like Pepsi and HP want to tap the local market with their product and services. U.S. goods and services trade with India totaled $61 billion in 2007 (latest data available). Exports totaled $27 billion; Imports totaled $34 billion. The U.S. goods and services trade deficit with India was $7 billion in 2007."