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Thursday, March 05, 2009

Genpact named ‘Best Performing BPO Provider’ & ‘Best Performing Finance & Accounting Outsourcing Firm’ in the 2009 Global Services 100 Survey

Genpact (NYSE:G), a leader in the globalization of services and technology and a pioneer in managing business processes for companies around the world, today announced that it has been ranked as the Best Performing BPO Provider & Best Performing FAO Provider in the 2009 Global Services 100 listing. The awards were presented at the 2009 Global Services Conference on February 26, 2009 in New York City.

Genpact has been a consistent performer in the Global Services 100 Survey, having been named the winner of the Best Performing BPO category for the last three years – 2007, 2008, and 2009. For the first time this year, Genpact has also been named number one in the Finance & Accounting Outsourcing (FAO) category. Genpact is the only company to have won in two categories this year.

“We are proud to have retained our position as the Best Performing BPO Provider, and are delighted to have also been named the ‘Best Performing FAO’ firm this year. Our process expertise in delivering end-to-end services across a breadth of industries and operational excellence driven by our Six Sigma, Lean and Re-engineering capabilities have allowed us to stand out in this tough environment”, said Mr. Pramod Bhasin, President & CEO of Genpact. “We thank Global Services, neoIT, our customers and employees for this important recognition”, added Mr. Bhasin.

Obama Shocks India: No Tax Break For Firms Offshoring Jobs

US President Barack Obama, in his first address to a joint session of US Congress, has said that his Government will not give tax breaks to US companies that ship jobs overseas.

Thursday, February 26, 2009: ASSOCHAM president Sajjan Jindal has expressed serious concern over the Obama administration decision to deny tax benefits to US companies that outsource their jobs, adding that it will prevent free flow of goods and services under WTO regime.
In a statement, Jindal said that the beneficiary of outsourcing jobs has not only been the receiving country but more so the country which has outsource their jobs in the past and the trend will remain so even in future. Estimates reveal that a US$ job outsourced fetched the outsource country more than 10 times of economic benefits and therefore discourage outsourcing by denying tax benefits can prove disastrous, Jindal added.