Bangalore: Be it the H1B visa price hike or the anti-offshoring policy that breezed past the U.S senate, India seems to be the offshoring abode for U.S companies to outsource despite all odds. As per a survey done by Harvey Nash of a UK-based IT staffing and managed services firm, 90 percent of CIOs will be maintaining or increasing offshore outsourcing projects in 2010 and 2011. In the first quarter of this year, financial services companies reported 40 outsourcing deals, versus 26 in the previous quarter. Notable deals in early 2010 include Deutsche Bank's $114 million contract with GFT Technologies in which GFT will take responsibility for applications that handle payment transactions, online banking, credit card management and securities transactions; and the multiyear contract that U.S. Bank signed with TSYS for card processing services. Cheap labor and quality output seems to drive U.S companies to India as they face simultaneous pressures of cost savings and software-cen...
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