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Thread ID: 14328 | Posts: 3 | Started: 2004-06-26
2004-06-26 14:55 | User Profile
India poaching hi-tech investments from Israel
Major companies have not invested in local R&D for over three years. Israeli hi-tech companies employ 3,000 workers in India. Alex Doron
India is 'stealing' the hi-tech industry from Israel, and is eating away at Israel's income in the industry, according to a new report issued by international consultation company Gartner. According to the report, Israeli companies employ about 3,000 workers in India, including large companies Ness and Amdocs.
Likewise, multi-national companies such as CA and Intel have not expanded their operations in Israel for over three years. Gartner explains that India is threatening the Israeli service market in the Information Technology industry. Gartner's Managing Director for Israel and the Middle East, Baruch Gindin, explained: "Israel is no longer unique in its ability to provide quality and advanced services in the IT industry. India is stealing much of this potential income from Israel."
According to the report, the international IT service market grew by 6.2% this year and reached $569 billion as opposed to $536 billion in 2002. While Israel is experiencing a decline in this market, Indian companies grew by a whopping 29% and already make up 1.4% of the market share. Nearly all Indian income in this industry is from outsourced services ââ¬â 92% of the income is from clients outside of India.
Gartner forecasts that the Israeli market will move in tune with the international markets for the rest of 2004 and will experience similar growth patterns.
2004-06-26 15:55 | User Profile
Oh poor Isreal, they're facing some competition from India. Well, at least US taxpayers don't spend billions of dollars on aid for India nor fight India's wars.
Israel would have more investers if they'd stop screwing the Palestinians. People don't like to put their money into uncertain situations.
2004-06-26 16:29 | User Profile
"What is bad for the state of Israel is good for the world",,,,,,by Ponce