Low-Cost Labor across Space and Time
Global corporations have long enjoyed the benefits of low-cost labor by manufacturing offshore. Now, a burgeoning export trade in business support and information technology services – sometimes referred to as India, which offers an educated English speaking workforce at a fraction of first-world wages. NASSCOM, India’s assocciation of IT companies, predicts income of $17 billion by 2008 from the export of skilled labor. Aided by technological advances that provide seamless real-time connections with clients, service providers promise fast turn-around as well as low cost. GE Capital Services employs more than 5,000 people at its international call center, while companies such as American Express and Swissair save between 40 and 50 percent by shipping data processing work electronically to India. Concesco plans to shift 2,000 white-collar jobs to India, a sevings of $30 million a year.
Tags: India, internationalbusiness, IT, labor, theeconomist
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March 4, 2008 at 4:57 am
IT sector will show impressive performance in coming years.. No doubt