- Jacob Cherian
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Downturn in Economy Triggers Outsourcing and Contract Work in India
With U.S. unemployment figures approaching 10 percent, it has affected parts of the tech industry with the chip and system design areas among the most affected (unemployment is 8.6 percent among American software engineers although the overall tech sector is faring better with an unemployment rate under five percent). In response, it has led seasoned talent to eschew searching for a new job in favor of offering their services to the highest bidder, according to a new online report.
It’s also been a boon for countries overseas. American companies now have access to highly skilled contract talent across the globe who can collaborate virtually. India, especially, is reaping the benefits since approximately 64 percent of all outsourced computer-design projects went to Indian companies this year, up from 51 percent the previous year. Trailing close behind was China, which raked in 33 percent.
Jacob Cherian is AlterNow’s India Contributor. He is a freelance business writer based in Kerala, India. He has written about business outsourcing for Offshore Advisor.