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- #10: Ritz Cracker Sandwiches, Peanut Butter, 8-1.38 Ounce
- CIL to invest Rs 15,000 cr in FY18 for capex, other projects
- Penalty on TCS in IP theft case slashed by US judge
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- #9: Bru Gold Instant Coffee, 100g
- #5: Chromozome Men’s Polo
- #6: Dettol Deep Cleanse Soap, 75g (Buy 3 Get 1 Free)
- Mumbaikars call for better services
- #8: Sampurna Ramayan – Vol 1 to 20 (Episodes 1 to 152)
- Dear FM, Yashwant Sinha is wrong. Don’t be tempted by a quick-fix
- Maruti sales up 9 pc at 1,63,071 units in September
- Does Apple slow down your old iPhone to make you buy the new one? Read to know
- #8: Jaipur Mart Jhumki Earrings for Women (Silver)(GSE466SLV)
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- #5: The Golden Girls Shady Pines Inspired Key Tag “Thank you For Being a Friend” Teal/White
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- #10: Sherlock Benedict Cumberbatch Wet and Sexy Open Shirt in Water 11 x 17 Poster Litho
- #6: Prextex Plastic Assorted Dinosaur Figures with Dinosaur Book,7-Inch,Pack of 12
- Even as Trump rants away, IBM now has more employees in India than in the US
- Eight of 10 most valued cos lose Rs 82,653 crore in m-cap
- IBM now has more employees in India than in the US
- #9: 1916-1945 Mercury Dime
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| #10: Ritz Cracker Sandwiches, Peanut Butter, 8-1.38 Ounce Posted: 01 Oct 2017 01:29 AM PDT  Ritz Cracker Sandwiches, Peanut Butter, 8-1.38 Ounce Buy new: (Visit the Best Sellers in Prime Pantry list for authoritative information on this product’s current rank.) |
| CIL to invest Rs 15,000 cr in FY18 for capex, other projects Posted: 01 Oct 2017 01:28 AM PDT NEW DELHI: The world’s largest coal miner, CIL, is lining up nearly Rs 8,500 crore as capital expenditure and Rs 6,500 crore for various other projects in the ongoing fiscal. The projects include a supercritical thermal power plant, solar energy and coal gasification. “The capital expenditure for 2017-18 has been set at Rs 8,500 crore,” an official said. Further, the official said, the company is planning to pump in Rs 6,500 crore in a host of projects, including a supercritical thermal power plant, solar power, revival of fertiliser plants, coal gasification and coal bed methane (CBM) during 2017-18. “In light of the Paris Protocol and consequent changes in the world energy scenario, Coal India Ltd (CIL) is looking forward to diversify its operations towards renewable energy like solar power and clean energy sources like coal mine methane, CBM, coal to liquid and underground coal gasification (UCG) following the government’s directives,” the official added. The overall capital expenditure of Coal India (CIL) during 2016-17 stood at Rs 7,700 crore as against Rs 6,123 crore in the previous year. “Capital expenditure incurred during 2016-17 is 99.16 per cent of budget estimates as against (102.21 per cent) in 2015 -16,” he added. Earlier, the government had said the coal major had taken various steps for full utilisation of capex in 2017-18. CIL, which accounts for over 80 per cent of the domestic coal production, is eyeing an output of 1 billion tonnes by 2020. In 2017-18, the target of coal output has been pegged at 600 mt with an annualised growth of about 8.3 per cent. |
| Penalty on TCS in IP theft case slashed by US judge Posted: 01 Oct 2017 01:28 AM PDT BENGALURU: Tata Consultancy Services said a US court issued an order that more than halved the $940 million jury award granted to EPIC Systems, which had accused the Indian IT company of stealing its trade secrets. The Western District Court of Wisconsin issued an order reducing the $940 million awarded to the US healthcare software firm to $420 million. The Indian IT company said it still plans to appeal the decision. Last year, ET had reported that EPIC had asked the judge to reduce the $940 million award to $720 million. The quantum of the jury award violated a Wisconsin law which prevents the award of punitive damages of more than twice the compensatory damages. A Wisconsin jury awarded EPIC $240 million in compensatory damages and $700 million in punitive damages, meaning the award fell afoul of the law. "The company has received legal advice to the effect that the order and the reduced damages awarded are not supported by evidence presented during the trial and a strong appeal can be made to superior court to fully set aside the jury verdict," TCS said in a filing with the Bombay Stock Exchange. Epic had claimed that TCS employees were brought on as consultants to a Kaiser Permanente Sunnyside Medical Center in Portland, Ore., to help implement an Epic system there and took more than 6,000 documents containing Epic’s system development information by creating a fake user account. EPIC said TCS used the illegally acquired information to create its own healthcare system. "The company did not misuse or derive any benefit from EPIC's documents and plans to defend its position vigorously before the trial judge as well as in appeal," TCS said in the filing. TCS said the order will not have an impact on its second-quarter results, which will be announced on October 12th. |
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| Mumbaikars call for better services Posted: 01 Oct 2017 12:45 AM PDT Mumbai’s suburban railway network is the biggest and one of the best in the world – but there are several issues at the same time like facilities for commuters and the crowd during the peak hours. The railway network is spread over Mumbai and the neighboring districts of Thane, Palghar, and Raigad. Spread over 465 km, the suburban railway operates 2,342 train services and carries more than 78 lakh plus commuters daily. There are 136 suburban stations in the Mumbai Metropolitan Region (MMR). By annual ridership (2.64 billion), the Mumbai suburban railway is one of the busiest commuter rail systems in the world. It is spread over four lines – the Mainline of Western Railway (WR) and Harbour, Trans-Harbour and the Mainline of the Central Railway (CR). The issue of safety of commuters has come to the fore once again in the wake of the Elphinstone Road FoB stampede last week that claimed 23 lives and resulted in injuries to 38 others. “What we need is more lines and more trains, the population of Mumbai is constantly increasing,” said Shaibal Gupta, a space seller, based in Vasai. “The services are the best, the signaling system is the best. But there is lack of toilets, foot-over bridges and entry and exit at bridges are jammed during the morning and evening peak hours,” said Tushir Choudhary, the director of School of Broadcasting and Communication at Andheri. Activist Dinesh Sadh, who travels from Mulund and Bandra on a regular basis, said that no doubt we need to upgrade facilities but given the regularity and punctuality, the railway administration needs to be commenced. “What we need is the reduction of babu-culture,” he said. “The Indian Railways should not take Mumbaikars for granted,” said RTI activist Anil Galgali. “The Delhi-based railway bosses have always neglected Mumbai and its needed. There was hope that Mumbai based Suresh Prabhu and now Piyush Goyal would do something for Mumbai, seems to be a distant dream,” said Galgali, said adding that in its blind ambition for Bullet Train the Central and the state government has not been paying attention towards the needs of the daily commuters. One of the major issues that are a matter of concern is the deaths on the tracks. “Daily 10 to 12 and sometimes more die while crossing the tracks. Its the fault of the commuters. The railways have also been running campaigns, people have been penalized but these deaths are happening and this is a reality,” said Raj Suri, who publishes the Mumbai Guide. Source: DH |
| #8: Sampurna Ramayan – Vol 1 to 20 (Episodes 1 to 152) Posted: 01 Oct 2017 12:43 AM PDT  Sampurna Ramayan – Vol 1 to 20 (Episodes 1 to 152) Buy: (Visit the Bestsellers in Movies & TV Shows list for authoritative information on this product’s current rank.) |
| Dear FM, Yashwant Sinha is wrong. Don’t be tempted by a quick-fix Posted: 01 Oct 2017 12:43 AM PDT New Delhi has been abuzz with talk of a big fiscal spending package of maybe Rs 40,000 crore to ‘kick-start’ the economy, which has slowed for five quarters in a row. Adding to the excitement has been the virulent castigation of economic policies (especially demonetisation and the red tape accompanying GST) by former BJP finance minister Yashwant Sinha. He warns that the economy is spiralling downwards to a hard landing. While the economy faces serious problems, these cannot be remedied by a fiscal spending spree. Finance minister Arun Jaitley must ignore panicky notions that a crash spending package can remedy structural problems that need deep reforms. Export stagnation for three years, a banking system burdened with huge bad debts, and high real interest rates have dragged down the economy . None of these can be rectified by a spending spree. Nobody should mistake Yashwant Sinha’s criticisms as a call for a fiscal boost. He was always a fiscal hawk, convinced (quite rightly) that the long-term gains of prudence vastly outweighed the short-term gains of a spending spree. He worries about the inspector raj that is returning with GST paperwork and a huge expansion of income tax investigations. His warnings have a core of truth: GST paperwork is monstrously tough for small companies, and the notion that our notoriously corrupt income tax can become the standard-bearers of tax honesty is bound to evoke laughter. Yet both GST and improved tax compliance are essential long-term goals, despite short-term costs. India already has a consolidated Centre-State fiscal deficit of 6-7% of GDP , the highest by far of any major economy . Many countries have gone bust with a lower fiscal deficit, and India survives only because it has a high savings rate. Deficits need to be reduced, not expanded. Indeed, steady reduction of the fiscal deficit in recent years has improved India’s credibility greatly , reduced the rate at which it can borrow abroad, and attracted foreign investment. Why throw away these gains for the tiny benefits, if any, of a spending spree? The Central fiscal deficit was supposed to be reduced to 3% of GDP by 2008, but that goal has been postponed by a full decade. Jaitley had earlier promised to cut the fiscal deficit to 3% this year but ultimately opted for 3.2%, presenting the additional 0.2% as a fiscal boost to accelerate the economy .That failed, and this should surprise nobody . Even for an efficient economy , an additional 0.2% of investment will increase GDP by just 0.05%, too small to even measure accurately. Meanwhile it has negative consequences like reduced foreign confidence in India, higher dollar outflows, and higher dollar borrowing rates. The same problems will afflict another fiscal boost of Rs 40,000 crore. Too many people see a spending spree as a quick Keynesian way of producing rapid growth. Keynes advocated a fiscal boost when a recession struck, causing a sudden shrinkage of demand. Conversely, he advocated a budget surplus during a boom.This leaning against the current stage of the business cycle is called contra-cyclical fiscal policy. But Rathin Roy of the National Institute of Public Finance and Policy says research has failed to uncover any business cycle in India. So, contracyclical policy in India is conceptually dubious or groundless. It is far better to stick to prudent longterm fiscal goals than attempt to fine-tune fiscal deficits on the erroneous notion that economic ups and downs can so easily be manipulated. In theory, spending a quick Rs 40,000 crore extra on infrastructure sounds attractive. In practice infrastructure projects have faced multiple delays and problems leading to bankrupt builders and bad debts of lakhs of crores. Experience shows that the government takes a long time to spend additional public funds productively . Infrastructure spending needs to rise steadily , not as a short-term stimulus. The economy has been hit by short-term shocks imposed by demonetisation and the launch of GST.But the shocks will gradually fade away , resulting in a bounce-back of growth in 2018. There is no evidence of a coming hard landing, as predicted by Yashwant Sinha. Nor will 8% growth return sustainably without major reforms. The right way to accelerate growth is to relentlessly increase productivity . This implies reforms that ease business hassles, greatly improve all government services, and instill confidence.Export stagnation must be checked by an aggressive exchange rate policy , lower interest rates, and trade facilitation. Massive bad debts of banks must be tackled. This means a long hard slog, not a quickie fiscal boost. Views expressed here are the author’s own, and not EconomicTimes.com’s |
| Maruti sales up 9 pc at 1,63,071 units in September Posted: 01 Oct 2017 12:43 AM PDT NEW DELHI: The country’s largest car maker Maruti Suzuki India (MSI) today reported 9.3 per cent increase in total sales at 1,63,071 units in September.The company had sold 1,49,143 units in the same month last year.MSI’s domestic sales stood at 1,51,400 units, up 10.3 per cent from 1,37,321 units in September 2016, the company said in a statement.Sales of mini segment cars, including Alto and WagonR, witnessed a 13.3 per cent decline to 38,479 units during the month under review from 44,395 units in September last year, MSI said.The auto major further said sales of the compact segment comprising Swift, Estilo, Dzire and Baleno jumped by 44.7 per cent to 72,804 units as against 50,324 units earlier.MSI said sales of mid-sized sedan Ciaz declined by 14.4 per cent to 5,603 units during the month.Sales of utility vehicles, including Gypsy, Grand Vitara, Ertiga, S-Cross and compact SUV Vitara Brezza, increased by 8 per cent to 19,900 units in September, from 18,423 units in the same month of 2016.Sales of vans — Omni and Eeco — increased marginally to 13,735 units last month as against 13,618 units in the year-ago period.Exports in September were down 1.3 per cent to 11,671 units as compared to 11,822 units in the same month last year, MSI said. |
| Does Apple slow down your old iPhone to make you buy the new one? Read to know Posted: 01 Oct 2017 12:43 AM PDT NEW DELHI: Has your old iPhone slowed down just as Apple has released its iPhone 8 series of smartphones and will soon release its 10th anniversary special edition iPhone X? For a long time, Apple has been accused of ‘planned obsolescence’, making old iPhones less useful so that you buy the new model. Similar suspicion has been cast at the recent release of iOS 11 update that is being seen by some as an attempt to make older phones obsolete. There are reports that searches like "iPhone slow" or "iPhone slowed down" on Google spiked before the release of the new model, which suggests a large number of iPhone users have started facing problems with their phones. A petition created by an online consumer group last year accused Apple of issuing software updates to slow down performance of older models, thus forcing users to consider buying the new model. A Harvard University study on the subject has been cited by innumerable articles accusing iPhone of sabotaging older models. There has been no proof that iPhone sabotages its older models to increase sale of new models. The Harvard study does not dwell on that issue at all. All it says is that the Google searches for “iPhone slow” spike around the time of release of a new model. Far from suggesting that it’s Apple that slows down your iPhones, the study indicates it could be a psychological phenomenon. Consumers are subjected to a lot of media hype about the new iPhone models. Since there is nothing wrong with the older iPhones they use, the desire to buy the latest models manifests as the anxiety about the performance of the older model. They tend to notice the performance issues more just around the time of release of the new model. The theory that Apple sabotages older iPhones is also fuelled by the idea that the software update, which has been released around the time of new models, must be slowing down older iPhones since it’s more advanced than the original software. There is no proof of that either. So is it a myth that Apple slows down older models? Yes. Since there is no proof of it, psychology better explains the phenomenon why suddenly people start searching Google for “iPhone slow” when new models are coming. |
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| Even as Trump rants away, IBM now has more employees in India than in the US Posted: 30 Sep 2017 11:46 PM PDT BANGALORE: IBM dominated the early decades of computing with inventions such as the mainframe and the diskette. Its offices and factories, stretching from upstate New York to Silicon Valley, were hubs of U.S. innovation long before Microsoft or Google came along. But over the past decade, IBM has shifted its center of gravity halfway around the world to India, making it a high-tech example of the globalization trends that the Trump administration has railed against. The company employs 130,000 people in India — about one-third of its total workforce, and more than in any other country. Their work spans the gamut of IBM's businesses, from managing the computing needs of global giants like AT&T and Shell to performing cutting-edge research in fields such as visual search, artificial intelligence and computer vision for self-driving cars. One team is even working with the producers of "Sesame Street" to teach vocabulary to kindergartners in Atlanta. "IBM India, in the truest sense, is a microcosm of the IBM company," Vanitha Narayanan, chairman of the company's Indian operations, said in an interview at IBM's main campus in Bangalore, where the office towers are named after U.S. golf courses like Peachtree and Pebble Beach. The work in India has been vital to keeping down costs at IBM, which has posted 21 consecutive quarters of revenue declines as it has struggled to refashion its main business of supplying tech services to corporations and governments. The tech industry has been shifting jobs overseas for decades, and other big U.S. companies like Oracle and Dell also employ a majority of their workers outside the United States. But IBM is unusual because it employs more people in a single foreign country than it does at home. The company's employment in India has nearly doubled since 2007, even as its workforce in the United States has shrunk through waves of layoffs and buyouts. Although IBM refuses to disclose exact numbers, outsiders estimate that it employs well under 100,000 people at its U.S. offices, down from 130,000 in 2007. Depending on the job, the salaries paid to Indian workers are one-half to one-fifth of those paid to Americans, according to data posted by the research firm Glassdoor. Ronil Hira, an associate professor of public policy at Howard University who studies globalization and immigration, said the range of work done by IBM in India shows that offshoring threatens even the best-paying U.S. tech jobs. "The elites in both parties have had this Apple iPhone narrative, which is, look, it's OK if we offshore the lower-level stuff because we're just going to move up," he said. "This is a wake-up call. It's not just low-level jobs but high-level jobs that are leaving." While other technology titans have also established huge satellite campuses in India, IBM has caught the attention of President Donald Trump. At a campaign rally in Minneapolis just before the November election, he accused the company of laying off 500 Minnesotans and moving their jobs to India and other countries, a claim IBM denied. Although he has not singled out the company for criticism since, Trump has tried to curb what he viewed as too many foreigners taking tech jobs from Americans. In April, he signed an executive order discouraging the granting of H-1B temporary work visas for lower-paid tech workers, most of whom come from India. IBM was the sixth-largest recipient of such visas in 2016, according to federal data. IBM, which is based in Armonk, New York, is sensitive to the perception that Americans are losing jobs to Indians. After Trump won the election, IBM's chief executive, Ginni Rometty, pledged to create 25,000 new U.S. jobs. Rometty, who helped carry out the Indian expansion strategy when she was the head of IBM's global services division, also has discussed with the new administration plans to modernize government technology and expand tech training for people without four-year college degrees. She also joined one of Trump's now-defunct business advisory councils. IBM declined to make Rometty or another top executive available for an interview. But the company noted that it is investing in the United States, including committing $1 billion to training programs and opening new offices. Narayanan, who spent 12 years working at IBM in the United States and China before moving to India in 2009, said the company decided where to put jobs based on where it could find enough qualified workers and the customer's budget. "It's not as if someone says, 'Oh, jeez, let me just take these jobs from here and put them there,’" she said. William Lazonick, a professor of economics at the University of Massachusetts, Lowell, who has studied the globalization of business, said IBM and other tech companies had benefited greatly from the emergence of a low-cost, technically skilled English-speaking workforce in India. "IBM didn't create this," he said. "But IBM would be a totally different company if it wasn't for India." IBM, which opened its first Indian offices in Mumbai and Delhi in 1951, is spread across the country, including Bangalore, Pune, Kolkata, Hyderabad and Chennai. Most of the Indian employees work in IBM's core business: helping companies like AT&T and Airbus manage the technical sides of their operations. Indians perform consulting services, write software and monitor cloud-based computer systems for many of the world's banks, phone companies and governments. But researchers here also try out new ideas. Looking to build a new system for searching with images instead of words, a team in Bangalore turned to Watson to index 600,000 photos from the world's top fashion shows and Bollywood movies. In spring, a major Indian fashion house, Falguni Shane Peacock, tried the tool, which helps designers avoid direct copies or even do a riff on an old look, and generated new patterns for three dresses. "It has the capability of doing research in a couple of seconds that would take a long time," Shane Peacock, who runs the Mumbai firm with his wife, said in an interview. IBM even has a Bangalore "garage" full of app designers who build corporate iPhone and iPad apps to simplify tasks such as helping airline agents rebook passengers, bankers make loans and doctors update patient files. During a recent visit, Ramya Karyampudi, a user experience designer, was at the whiteboard sketching out an app for a smart refrigerator that would solve the universal problem of what to make for dinner. Starting with a drawing of a husband trying to plan a surprise meal for his wife, Karyampudi depicted the internet-connected refrigerator looking at what food was inside, sending over relevant recipes, telling him what extra ingredients he needed to pick up, and playing a video showing him how to cook it all. IBM's outsize presence in India is all the more striking given that it left the country entirely in 1978 after a dispute with the government about foreign ownership rules. IBM re-entered the country through a joint venture with Tata in 1993, initially intending to assemble and sell personal computers. IBM's leaders soon decided that India's potential was far bigger — both as a market and as a base from which to serve customers around the world. The company took full control of the venture, established an Indian branch of its famed research labs, and in 2004, landed a landmark 10-year, $750 million contract from Bharti Airtel, one of India's biggest phone companies, which remains a major customer. IBM's chief executive at the time, Samuel J. Palmisano, was so proud of his India initiative that he rented out the grounds of the Bangalore Palace in June 2006, flew out the board, and told a crowd of 10,000 that IBM would invest $6 billion in India over the next three years. India does not just deliver services to IBM's global clients. It is also a crucial market and the center of IBM's efforts to help businesses serve the next big slice of customers: the billions of poorer people who have been largely ignored by the tech revolution. For example, teams here have been applying IBM technology to process very small loans so that banks can make a profit on them. IBM has also been working with Manipal Hospitals, a chain based in Bangalore, to adapt Watson to help doctors treat certain cancers. Presented with a patient's medical history, the system taps into a database that includes advice from doctors at Memorial Sloan Kettering Cancer Center in New York to recommend the best treatments — including the price, a big consideration since most Indians lack health insurance. Dr. Ajay Bakshi, Manipal's chief executive, said the biggest potential for the technology was in rural hospitals with few doctors. Manipal has just begun offering online "second opinions" from Watson for 2000 rupees, or about $31. "It never sleeps. It never forgets. It doesn't get biased," he said. IBM executives say projects like these represent the company's future. "I am looking for India to be my hub for affordable innovation," Narayanan said. |
| Eight of 10 most valued cos lose Rs 82,653 crore in m-cap Posted: 30 Sep 2017 11:46 PM PDT NEW DELHI: Eight of the 10 most valued Indian companies saw a combined erosion of Rs 82,653.59 crore in market valuation last week, with Reliance Industries Ltd (RIL) taking the steepest hit. Except for Oil and Natural Gas Corporation (ONGC) and Infosys, the rest eight companies, including Tata Consultancy Services (TCS), HDFC Bank, ITC and HDFC, suffered losses in their market capitalisation (m-cap) for the week ended Friday. RIL’s market valuation plummeted Rs 22,385.57 crore to Rs 4,95,300.50 crore. The m-cap of Hindustan Unilever Ltd (HUL) tumbled Rs 13,939.14 crore to Rs 2,54,358.70 crore and that of TCS slid Rs 12,509.87 crore to Rs 4,66,511.89 crore. ITC’s valuation slumped Rs 12,094.05 crore to Rs 3,14,642.67 crore and that of State Bank of India (SBI) tanked Rs 7,035.12 crore to Rs 2,19,038.28 crore. The market cap of Housing Development Finance Corporation (HDFC) was down by Rs 6,546.22 crore at Rs 2,77,658.14 crore and that of HDFC Bank declined by Rs 5,080.53 crore to Rs 4,65,907.51 crore. Maruti Suzuki India also suffered a loss of Rs 3,063.09 crore at Rs 2,40,852.96 crore. In contrast, ONGC’s valuation surged Rs 7,956.61 crore to Rs 2,18,999.16 crore and that of Infosys rose by Rs 162.28 crore to Rs 2,06,441.84 crore. In the m-cap ranking of top-10 firms, RIL stood at number one spot, followed by TCS, HDFC Bank, ITC, HDFC, HUL, Maruti, SBI, ONGC and Infosys. Both the Sensex and the Nifty suffered weekly losses for the third time this month, down 638.72 points, or 2 per cent, and 175.80 points, or 1.76 per cent, respectively. |
| IBM now has more employees in India than in the US Posted: 30 Sep 2017 11:46 PM PDT BANGALORE: IBM dominated the early decades of computing with inventions such as the mainframe and the diskette. Its offices and factories, stretching from upstate New York to Silicon Valley, were hubs of U.S. innovation long before Microsoft or Google came along. But over the past decade, IBM has shifted its center of gravity halfway around the world to India, making it a high-tech example of the globalization trends that the Trump administration has railed against. The company employs 130,000 people in India — about one-third of its total workforce, and more than in any other country. Their work spans the gamut of IBM's businesses, from managing the computing needs of global giants like AT&T and Shell to performing cutting-edge research in fields such as visual search, artificial intelligence and computer vision for self-driving cars. One team is even working with the producers of "Sesame Street" to teach vocabulary to kindergartners in Atlanta. "IBM India, in the truest sense, is a microcosm of the IBM company," Vanitha Narayanan, chairman of the company's Indian operations, said in an interview at IBM's main campus in Bangalore, where the office towers are named after U.S. golf courses like Peachtree and Pebble Beach. The work in India has been vital to keeping down costs at IBM, which has posted 21 consecutive quarters of revenue declines as it has struggled to refashion its main business of supplying tech services to corporations and governments. The tech industry has been shifting jobs overseas for decades, and other big U.S. companies like Oracle and Dell also employ a majority of their workers outside the United States. But IBM is unusual because it employs more people in a single foreign country than it does at home. The company's employment in India has nearly doubled since 2007, even as its workforce in the United States has shrunk through waves of layoffs and buyouts. Although IBM refuses to disclose exact numbers, outsiders estimate that it employs well under 100,000 people at its U.S. offices, down from 130,000 in 2007. Depending on the job, the salaries paid to Indian workers are one-half to one-fifth of those paid to Americans, according to data posted by the research firm Glassdoor. Ronil Hira, an associate professor of public policy at Howard University who studies globalization and immigration, said the range of work done by IBM in India shows that offshoring threatens even the best-paying U.S. tech jobs. "The elites in both parties have had this Apple iPhone narrative, which is, look, it's OK if we offshore the lower-level stuff because we're just going to move up," he said. "This is a wake-up call. It's not just low-level jobs but high-level jobs that are leaving." While other technology titans have also established huge satellite campuses in India, IBM has caught the attention of President Donald Trump. At a campaign rally in Minneapolis just before the November election, he accused the company of laying off 500 Minnesotans and moving their jobs to India and other countries, a claim IBM denied. Although he has not singled out the company for criticism since, Trump has tried to curb what he viewed as too many foreigners taking tech jobs from Americans. In April, he signed an executive order discouraging the granting of H-1B temporary work visas for lower-paid tech workers, most of whom come from India. IBM was the sixth-largest recipient of such visas in 2016, according to federal data. IBM, which is based in Armonk, New York, is sensitive to the perception that Americans are losing jobs to Indians. After Trump won the election, IBM's chief executive, Ginni Rometty, pledged to create 25,000 new U.S. jobs. Rometty, who helped carry out the Indian expansion strategy when she was the head of IBM's global services division, also has discussed with the new administration plans to modernize government technology and expand tech training for people without four-year college degrees. She also joined one of Trump's now-defunct business advisory councils. IBM declined to make Rometty or another top executive available for an interview. But the company noted that it is investing in the United States, including committing $1 billion to training programs and opening new offices. Narayanan, who spent 12 years working at IBM in the United States and China before moving to India in 2009, said the company decided where to put jobs based on where it could find enough qualified workers and the customer's budget. "It's not as if someone says, 'Oh, jeez, let me just take these jobs from here and put them there,’" she said. William Lazonick, a professor of economics at the University of Massachusetts, Lowell, who has studied the globalization of business, said IBM and other tech companies had benefited greatly from the emergence of a low-cost, technically skilled English-speaking workforce in India. "IBM didn't create this," he said. "But IBM would be a totally different company if it wasn't for India." IBM, which opened its first Indian offices in Mumbai and Delhi in 1951, is spread across the country, including Bangalore, Pune, Kolkata, Hyderabad and Chennai. Most of the Indian employees work in IBM's core business: helping companies like AT&T and Airbus manage the technical sides of their operations. Indians perform consulting services, write software and monitor cloud-based computer systems for many of the world's banks, phone companies and governments. But researchers here also try out new ideas. Looking to build a new system for searching with images instead of words, a team in Bangalore turned to Watson to index 600,000 photos from the world's top fashion shows and Bollywood movies. In spring, a major Indian fashion house, Falguni Shane Peacock, tried the tool, which helps designers avoid direct copies or even do a riff on an old look, and generated new patterns for three dresses. "It has the capability of doing research in a couple of seconds that would take a long time," Shane Peacock, who runs the Mumbai firm with his wife, said in an interview. IBM even has a Bangalore "garage" full of app designers who build corporate iPhone and iPad apps to simplify tasks such as helping airline agents rebook passengers, bankers make loans and doctors update patient files. During a recent visit, Ramya Karyampudi, a user experience designer, was at the whiteboard sketching out an app for a smart refrigerator that would solve the universal problem of what to make for dinner. Starting with a drawing of a husband trying to plan a surprise meal for his wife, Karyampudi depicted the internet-connected refrigerator looking at what food was inside, sending over relevant recipes, telling him what extra ingredients he needed to pick up, and playing a video showing him how to cook it all. IBM's outsize presence in India is all the more striking given that it left the country entirely in 1978 after a dispute with the government about foreign ownership rules. IBM re-entered the country through a joint venture with Tata in 1993, initially intending to assemble and sell personal computers. IBM's leaders soon decided that India's potential was far bigger — both as a market and as a base from which to serve customers around the world. The company took full control of the venture, established an Indian branch of its famed research labs, and in 2004, landed a landmark 10-year, $750 million contract from Bharti Airtel, one of India's biggest phone companies, which remains a major customer. IBM's chief executive at the time, Samuel J. Palmisano, was so proud of his India initiative that he rented out the grounds of the Bangalore Palace in June 2006, flew out the board, and told a crowd of 10,000 that IBM would invest $6 billion in India over the next three years. India does not just deliver services to IBM's global clients. It is also a crucial market and the center of IBM's efforts to help businesses serve the next big slice of customers: the billions of poorer people who have been largely ignored by the tech revolution. For example, teams here have been applying IBM technology to process very small loans so that banks can make a profit on them. IBM has also been working with Manipal Hospitals, a chain based in Bangalore, to adapt Watson to help doctors treat certain cancers. Presented with a patient's medical history, the system taps into a database that includes advice from doctors at Memorial Sloan Kettering Cancer Center in New York to recommend the best treatments — including the price, a big consideration since most Indians lack health insurance. Dr. Ajay Bakshi, Manipal's chief executive, said the biggest potential for the technology was in rural hospitals with few doctors. Manipal has just begun offering online "second opinions" from Watson for 2000 rupees, or about $31. "It never sleeps. It never forgets. It doesn't get biased," he said. IBM executives say projects like these represent the company's future. "I am looking for India to be my hub for affordable innovation," Narayanan said. |
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