IT professionals in the US may soon stop complaining about their jobs being exported to India as the latest trend shows that India has also started exporting jobs to the US to meet the demand generated by widespread growth in the technology space.
With the global technology trade expanding further, countries like India and China are no longer just recipients of foreign investments and outsourced jobs, they are now exporting jobs to the US as well by opening R&D and manufacturing facilities there.
Itâ€™s a reversal trend now:
In a reversal of trends, Indian and Chinese companies are now exporting jobs to America by expanding their presence on the US soil â€“ hence proving that the global tech trade can create win-win opportunities for all nations involved, global IT research major Forrester said in a report.
As the domestic firms from two Asian countries — such as Indiaâ€™s Tata group and Infosys and Chinaâ€™s Lenovo and Haier start expanding abroad, they are creating new investment projects and are hiring sales and service staff worldwide including the US.
According to the data compiled by IBM â€“ Plant Location International, India moved up to the seventh position in the league of FDI origin countries in terms of the number of projects in 2005, from its 10th position in the previous year with as many as 218 projects.
While the US was the biggest recipient of Chinese FDI in 2005, the United Kingdom received the highest number of FDI projects from India. The US was the fourth biggest FDI recipient from India in 2005 with a total of 17 projects, as against 45 received by the US. In contrast, the US and the UK each received 11 FDI projects from China. India also received 7 Chinese projects, while china received 24 Indian FDI projects.â€™
The latest FDI trends show that the US investors are continuing to fuel the rise of India and China as major supply bases for technology R&D and manufacturing.
At the same time the US is also becoming a magnet for foreign investments targeted at industries like financial services, consumer goods and pharmaceuticals which are heavily dependent on IT and boast of huge, sophisticated market high-end talent.
India is emerging as the â€˜innovationâ€™ with its limited domestic market but a highly qualified and service â€“ focused technical talent pool that attracts huge R&D investments.
On the other hand, China would play the role of â€œtransformerâ€? using its cost â€“ effective industrial labor and vast consumer market to establish itself as the worldâ€™s biggest destination for manufacturing related investments.