A nice bit of news

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From Reuters;

India may get a billion dollars in IT outsourcing contracts.
MUMBAI (Reuters) – Leading Indian outsourcers such as Tata Consultancy (TCS.BO), Infosys (INFY.BO) and Wipro (WIPR.BO) stand to gain contracts worth about $1 billion in the next one or two years as U.S. banks emerge from the troubled asset relief program, the Economic Times reported on Monday.

The newspaper said JPMorgan (JPM.N), Goldman SachsGS.N) and Morgan Stanley (MS.N) that received approval to buy back government stake worth $68 billion earlier this year are among the firms seeking operational efficiencies by outsourcing non-core IT and back-office projects to India.

American Express (AXP.N), Bank of New York MellonBK.N) and Capital One, which have started repaying government debt, were also considering outsourcing, it said.


As a side note to this article, the "jobs market writers" (you know those experts who tell people what education they should get to get those high paying jobs) are pushing for the jobless IT jobs and some are stating that the IT field is coming back, especially in the Financial industry. Go figure that we are going to see more outsourcing in this field and with a country who has poor laws about privacy.

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Between IT and Engineering India is advancing fast. They have some decent educational institutions (few) and the graduates from these are pretty good. But I know as well as you do that some who do these jobs will not be the best and we'll have to have our funny bone working for the coming errors. Too much of IT support has gone to low paying jobs here and finally been outsourced overseas to even lower priced companies. Does this mean we should demand better products from software mfrs? Better testing and integration of products?

I've already dealt with the outsourced Microsoft support system and the answers and suggestions were to say the least totally useless and this was for a product many of us use, Streets and Trips. They deleted many eastern Canadian towns street names and such but these were in the 2002 version. Can't say why deleted, can't say when will be reinstated, can't even tell me if an older database can be merged into the new one, can't tell me where to get the info.
Rob