It seems that it is now India's turn to get outsourced. Today, Tata Consultancy Services (TCS) signed deal with 3 Chinese firms to expand its business in China. Well, Chinese government is eager to emulate Indian success in outsourcing of software development and other IT services. Thus, it is a win-win situation for both for TCS and China. TCS is planning to create 5,000 jobs in China in the next 4 years and this is for the first time that any Indian company is going to create jobs in China at such a large scale.
I am quoting here from a report of DNA India:
"TCS on Monday said it has entered into a shareholder promoter agreement with two Chinese government entities to form a joint venture, Tata Consultancy Services (China) Co. The JV, 72.22% held by TCS, is expected to get its business license by September, after which Microsoft would take a 10% stake, reducing TCS’s ownership to 65%.
Management control would continue to rest with TCS. The paid-up capital of the JV is $12.6 million, which would rise to $14.7 million after Microsoft joins. TCS has over 500 people working at its wholly owned Chinese subsidiary."
So, you can see that TCS is planning big for China. And I am sure that if TCS can find cheaper worker in China then many jobs from India will follow to China in the coming months. China has shown outstanding success in the manufacturing sector and now Chinese government is eager to have the same success in the service sector too. So, TCS will have a very friendly atmosphere in China- no doubt about that.
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This is too amusing. Poetic Justice, as some put it. Now you get to see what those of us in other countries had to face when we built our careers, only to have them ripped out from under us and sent to you for 1/10 the cost.
Enjoy.
Posted by: Out of Work | July 25, 2006 2:16 AM | Permalink to Comment