Demand For Outsourcing Services Remains Strong: TCS
On Wednesday, the Tata Consultancy Services Ltd. has assured its investors that the demand for outsourcing services has remained strong in the market, despite the economic downfall in the biggest outsourcing markets of the U. S. and Europe.
The Tata Consultancy Services has revealed that there was a 2% growth in the U. S. economy as compared to 3.6% last year. The company has said that the little change in the growth will not have an adverse impact on it US-based clients.
The Tata Consultancy Services faces controversies in the US following the high unemployment over the past several months. Last year, the U. S. imposed a large fee on H1-B visas issued for skilled workers in order to weigh the profitability of Indian outsourcers. The U. S. is now investigating a case of suspected abuse of a temporary work visa program by Infosys Technologies Ltd.
Over the past few weeks, major companies like Infosys and iGate have raised concerns over high unemployment rates in the US and the debt crisis in European market. They believe that such situation could affect the decision making process of top outsourcing customers.