The turmoil in the financial market is likely to spell good news for the Indian outsourcing companies, as the downturn will compel multinationals to seek further economies for sustenance in these tough times, Wipro Technologies founder Azim Premji has said.
In an interview to the Sunday Times, Premji insisted that "the Indian outsourcing giants will benefit from this downturn, as all multinationals seek further economies."
Premji's statement comes at a time when the United States President Barack Obama has proposed changes in tax laws to curb outsourcing.
Obama proposing change in tax laws of that country had reportedly said, it's a tax code that says you should pay lower taxes if you create a job in Bangalore, than if you create one in Buffalo, New York.
Premji also voiced its concern about the "creeping tide of protectionism" in the West and said that "If we get into protectionism, then the West is going to get a wave of protectionism in response, and that is going to turn back the clock 20 years".
Premji further warned that it will be America and Europe that will suffer, because they will be excluded from the only growth markets left, in Asia, Africa and China.
CXOtoday
Showing posts with label US president. Show all posts
Showing posts with label US president. Show all posts
Sunday, June 21, 2009
Thursday, May 7, 2009
Any kind of protectionism is harmful, says Honeywell chief
Any kind of protectionism is going to be harmful for the world economy, a top official of Honeywell International, a Fortune 100 Global diversified technology and manufacturing firm, said on Thursday.
"Any kind of protectionism in India or China or elsewhere is very harmful or worrisome for the global economy", said David Cote, Honeywell's Chairman and CEO, reacting to US President Barack Obama's
announcement about end of tax incentives to companies which create jobs overseas in places like Bangalore.
" I am not against creating jobs anywhere. I do know that anything that stops globalisation activity, any protectionism will be very harmful", he told reporters here.
"A great number of businesses would be seeing protectionism as negative, as bad. And I do hope that people in the Congress (US Congress) realise that you can't love jobs and hate people who create them", he said.
He said Honeywell's new "green diesel" has already been used in test flights in New Zealand.
"The green diesel, which is a drop-in diesel, which can be made from plants like algae has already flown test flights in New Zealand", he said to a query on the firm's speciality materials business.
"We have also come up with a new fertiliser called Ammonium Sulphate Nitrate", he said.
Agencies
"Any kind of protectionism in India or China or elsewhere is very harmful or worrisome for the global economy", said David Cote, Honeywell's Chairman and CEO, reacting to US President Barack Obama's
announcement about end of tax incentives to companies which create jobs overseas in places like Bangalore.
" I am not against creating jobs anywhere. I do know that anything that stops globalisation activity, any protectionism will be very harmful", he told reporters here.
"A great number of businesses would be seeing protectionism as negative, as bad. And I do hope that people in the Congress (US Congress) realise that you can't love jobs and hate people who create them", he said.
He said Honeywell's new "green diesel" has already been used in test flights in New Zealand.
"The green diesel, which is a drop-in diesel, which can be made from plants like algae has already flown test flights in New Zealand", he said to a query on the firm's speciality materials business.
"We have also come up with a new fertiliser called Ammonium Sulphate Nitrate", he said.
Agencies
Monday, November 10, 2008
Why is Obama the best man to lead USA?
What makes Barack Obama the best man for the post of US President? Apart from being first Black to adorn the White House, what are the other attributes that make him fit for the prestigious post?
A latest survey conducted by InspireOne, a people, organization and leadership development firm based in India points to some interesting aspects of the man called Obama.
According to the survey done by InspireOne in association with Centre for High Performance Development (www.chpd.com), it is the critical thinking skills in Obama that makes him different.
The analysis participated in the survey predicts that Obama will be able to perform to a higher level at times of high 'VUCAD' (volatility, uncertainty, complexity, ambiguity and delayed feedback), said a press release.
The analysis conducted a week before the Presidential Elections, reveals the instinctive characteristics and decision making skills that Obama possessed as a leader in the making.
The three primary levels of thought and action assessed are related to the skills of Differentiation, Integration and Crisis, the survey points out.
A latest survey conducted by InspireOne, a people, organization and leadership development firm based in India points to some interesting aspects of the man called Obama.
According to the survey done by InspireOne in association with Centre for High Performance Development (www.chpd.com), it is the critical thinking skills in Obama that makes him different.
The analysis participated in the survey predicts that Obama will be able to perform to a higher level at times of high 'VUCAD' (volatility, uncertainty, complexity, ambiguity and delayed feedback), said a press release.
The analysis conducted a week before the Presidential Elections, reveals the instinctive characteristics and decision making skills that Obama possessed as a leader in the making.
The three primary levels of thought and action assessed are related to the skills of Differentiation, Integration and Crisis, the survey points out.
Wednesday, November 5, 2008
Bangalore techies cheer Obama
As Obama creates history by becoming the first Black to adorn the post of US President, these fans in the Indian Silicon Valley are more than a happy lot.
As Democrat Barack Obama has created history in the US Presidential elections by becoming the first Black to take control of the White House, this techie group from Bangalore would be more than happy, as their campaign has bore result.
These Bangalore techies, who had formed Barack Obama Bangalore Fan Club, were probably more enthusiastic than the American youth and they made all attempts possible on their part to fetch vote for the youth icon in his run-up for the most powerful post in the US.
Apart from calling up, SMSing and emailing friends and relatives in the US to vote for the Democrat, the club members also collected more than US$4000 from their circles, which they contributed to the election fund of Obama.
They had even organized rallies in the Indian Silicon Valley, carrying placards supporting Obama and explaining why the US as well as India need Obama in the White House.
The fan club members say they got the money for the election fund from several quarters voluntarily. And they believe that the young Democrat could bring a positive change. But it was Obama only who had played the anti-outsourcing card to woo the American youth in a recent electoral speech.
Will the fan club be able to make him retract from the announcement?
After all the statement had caused the Indian IT sector to press the panic button, as majority of outsourcing works from the US are shipped to India.
At this moment of history, some perennial questions arise.
Will the new President be able to help revive the nose-diving American economy? Will India, especially the IT sector, have to face the heat of the anti-outsourcing card played by Obama to win over the jobless youth of America?
As Democrat Barack Obama has created history in the US Presidential elections by becoming the first Black to take control of the White House, this techie group from Bangalore would be more than happy, as their campaign has bore result.
These Bangalore techies, who had formed Barack Obama Bangalore Fan Club, were probably more enthusiastic than the American youth and they made all attempts possible on their part to fetch vote for the youth icon in his run-up for the most powerful post in the US.
Apart from calling up, SMSing and emailing friends and relatives in the US to vote for the Democrat, the club members also collected more than US$4000 from their circles, which they contributed to the election fund of Obama.
They had even organized rallies in the Indian Silicon Valley, carrying placards supporting Obama and explaining why the US as well as India need Obama in the White House.
The fan club members say they got the money for the election fund from several quarters voluntarily. And they believe that the young Democrat could bring a positive change. But it was Obama only who had played the anti-outsourcing card to woo the American youth in a recent electoral speech.
Will the fan club be able to make him retract from the announcement?
After all the statement had caused the Indian IT sector to press the panic button, as majority of outsourcing works from the US are shipped to India.
At this moment of history, some perennial questions arise.
Will the new President be able to help revive the nose-diving American economy? Will India, especially the IT sector, have to face the heat of the anti-outsourcing card played by Obama to win over the jobless youth of America?
Friday, October 31, 2008
Spammers cash in on financial crisis
While experts predict potential losses of $2.8 trillion as a result of the world financial crisis, the spamming industry could end October on profit
The worldwide financial crisis sparked an increase in spam production following the collapse of some big names in global banking, says BitDefender researchers. As the world's stock markets crashed, spammers deployed a number of scams promoting services that claimed to eliminate or leverage debts, mortgages, and other fiscal or loan obligations.
For example, a large spam wave targeting US residents advertised the services of a company that allegedly offered to help stop home foreclosures. The message speculated the latest bailout plan announced by the US president.
Based on a template used before the recession, additional spam campaigns featuring financial ads gained significant volume during the month of October. Usually limited to a single body or subject line, the messages direct users through web links to various web sites, most of which were pushing phishing schemes.
Other spam waves used the economic crisis as a simple decoy for advertising drugs, pirated software or replicas. Finally, one of the most recent spam attempts relied on a multiple combination of automatically generated and distributed junk e-mails and social networking profiles directing the targeted recipients to web sites where they can "leave debt behind."
Vlad Valceanu, head, BitDefender's Antispam Research, said: "It is extremely important for computer users to be cautious about the emails they receive, as well as the advertisements they chose to click on. Spammers are using the current economic state and computer users' worries to their advantage by targeting spam campaigns towards those looking for not only more information about the recession but also those looking for how to better their current financial status."
The worldwide financial crisis sparked an increase in spam production following the collapse of some big names in global banking, says BitDefender researchers. As the world's stock markets crashed, spammers deployed a number of scams promoting services that claimed to eliminate or leverage debts, mortgages, and other fiscal or loan obligations.
For example, a large spam wave targeting US residents advertised the services of a company that allegedly offered to help stop home foreclosures. The message speculated the latest bailout plan announced by the US president.
Based on a template used before the recession, additional spam campaigns featuring financial ads gained significant volume during the month of October. Usually limited to a single body or subject line, the messages direct users through web links to various web sites, most of which were pushing phishing schemes.
Other spam waves used the economic crisis as a simple decoy for advertising drugs, pirated software or replicas. Finally, one of the most recent spam attempts relied on a multiple combination of automatically generated and distributed junk e-mails and social networking profiles directing the targeted recipients to web sites where they can "leave debt behind."
Vlad Valceanu, head, BitDefender's Antispam Research, said: "It is extremely important for computer users to be cautious about the emails they receive, as well as the advertisements they chose to click on. Spammers are using the current economic state and computer users' worries to their advantage by targeting spam campaigns towards those looking for not only more information about the recession but also those looking for how to better their current financial status."
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