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NRIOL.COM - Snippets |
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April 12, 2001
Victims of US tech slump ideal targets for Indian companies
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Out of favour US IT companies could soon find themselves being purchased by cash-rich Indian software and services firms according to Silicon.com. According to the London based ebusiness media organization visionary Indian software companies are well-placed to purchase US companies as they still have plenty of cash in the bank. This will enable them to move up the value chain quickly.
Another effect of the US downturn the report indicates is a turning of the tide of skilled emigrants to America. There is already a small trickle of Indian IT professionals returning home after being made redundant by US employers. Unlike in the past, they now have a choice between seeking alternative employment in the US under the H1 temporary work permit scheme, or returning home to new opportunities.
- nriol.com report
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