The slow employment growth rate in India is one of the major issues India is facing at present. But this is nothing new as the problem has been there for a long time. The unemployment problem has grown to such an extent that overqualified candidates can be seen applying for posts of ‘peons’ and ‘constables’ which reflected a reality of the current unemployment situation in India.
At a time when Indian youths are struggling for jobs, over 55,000 American employees are working with India’s top 4 companies. It shows that Indian IT companies are more interested in offering jobs to Americans than Indians. The number of American employees working with Indian IT firms has increased from a few years ago. At a time when the US government leaves no stone unturned to create enough local jobs, Indian IT companies have set a great example by hiring thousands of American employees.
Most of the US employees are working with the top 4 Indian IT organisations. According to data, shown by IT industry body Nasscom, TCS has 20,000 such employees, Infosys 14,000, HCL 13,400, and Wipro 10,000.
Companies are constantly working on how to overcome visa barriers and become more global in their operations. Earlier, Infosys, India’s second-largest IT services company, announced that it would open four technology and innovation hubs in the US. It would also hire 10,000 American workers in the state. However, the second such hub is already under construction in Hartford, Connecticut.
While speaking with TOI, TCS HR head Milind Lakkad stated that the company is hiring 1,500 freshers from campuses in the US and Europe this year, one of the highest in recent times. In the fiscal year 2018, 1.7 lakh employees were working with the Indian IT industry whereas there were 1.5 lakh employees in fiscal 2015.
According to data from IHS Markit Research, Indian IT companies are estimated to have paid an average compensation of $96,300 to its US employees in 2018, higher than the average wage of $94,800 that IT professionals get in the US.
According to American research firm IHS Markit Research, Indian IT companies are rapidly creating jobs in the US. Job creation in the US by Indian IT companies grew at an average annual rate of 3.8% from 2016 to 2018, faster than the 2.6% average annual employment growth of the industry of which it is a part of.
Indian IT firms are now establishing technology centers across the US with a view to creating more jobs for American workers. Take an example for Infosys which has set up half-a-dozen technology centers across Indiana, Connecticut, Rhode Island, Texas, North Carolina, and Arizona.
