News: Canada outsourcing row may hit Indian IT

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Canada outsourcing row may hit Indian IT

According to a Mint report, Indian IT firms may have to wait till at least the middle of 2014 before top banks and financial services firms in Canada decide on farming out work to Indian companies

According to a Mint report, Indian IT firms may have to wait till at least the middle of 2014 before top banks and financial services firms in Canada decide on farming out work to Indian companies

The report said “Tata Consultancy Services Ltd , Infosys Ltd and iGate Corp. , which are facing a political backlash in Canada on concerns that jobs are being shipped overseas, may have to wait till at least the middle of 2014 before top banks and financial services firms in the north American nation decide on farming out work to Indian software services providers, experts say.”

The report also added that Canada’s top five banks— Royal Bank of Canada (RBC), Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal and the Canadian Imperial Bank of Commerce—and other financial services firms are under pressure to create more jobs in the country amid rising unemployment rates.

Read the complete report here

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Topics: #Outsourcing, #Jobs, #Updates, #International

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