CNN (Reuters) reports: “Jobs abound in India’s tech sector”
“Companies are slashing payrolls in the United States and Europe to cut costs, moving software work offshore and creating thousands of jobs for India’s low-cost engineers.”
“India’s software sector. . . added 130,000 — nearly 25 percent — to its workforce in the year to March, taking the sector to 650,000. Wage costs are rising but are not yet a threat for a nation that churns out about 200,000 engineers per year, analysts say.”
“Software workers with two years of experience are paid . . . roughly one sixth of what their U.S. counterparts earn,” which is still “a princely wage” in Indian terms.
“India’s software services exports rose to $9.5 billion in the past year to March and are forecast to grow 26 percent this year.”
“A fall in U.S. employment visas for foreign workers is partly driving the expansion plans of high-tech firms such as IBM, Accenture Ltd and Oracle Corp. in India. Visa curbs discourage Indians from seeking employment abroad and some are returning from a stint overseas.”
So immigration policy designed in part to protect American jobs is undermining them, as the jobs are exported, instead of workers imported.
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