India gets more complex outsourcing
Published: Tue, Dec. 06, 2005 12:00AM
Modified Tue, Dec. 06, 2005 04:35AM
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closeIntel, the world's largest chipmaker, and J.P. Morgan Chase, the global investment banker, said Monday that they would outsource significant operations to India, an indication that more complex, high-value work is moving to the country.
Intel, based in Santa Clara, Calif., will invest about $1 billion in India over five years, of which $800 million will go to expanding its research and development center in Bangalore, the company's chairman, Craig R. Barrett, said in a statement during a visit to New Delhi.
Intel's news followed the announcement in October that Cisco Systems would invest $1.1 billion and triple its staff in India, from 1,400 to more than 4,000, in three years.
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Intel's Bangalore center employs about 3,000 engineers who design and develop products.
J.P. Morgan Chase said it would add 4,500 employees in India by 2007, mainly by setting up operations in Bangalore to support its growing structured finance and derivatives businesses globally.
Wall Street firms and large global banks have been aggressive in outsourcing work to India in recent months. UBS said it would open its first center in Hyderabad with 500 jobs in early 2006. Goldman Sachs has 750 people in its center in Bangalore but has a capacity for 1,500 employees.
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