India is the world’s largest sourcing destination for the information technology industry, accounting for approximately 67% of the US$130 billion market. The industry employs about 10 million workforce and has led the economic transformation of the country and altered the perception of India in the global economy. India’s cost competitiveness in providing IT services, which is approximately three-four times cheaper than the United States, continues to be the mainstay of its unique selling proposition (USP) in the global sourcing market.
Despite India’s timely and evidence driven calls to brand Pakistan a terrorist state subject to international sanctions and despite the concurrence of several prominent US Congressmen, the United States government is unlikely to endorse such a move in the near future. On 7 October, State Department spokesperson John Kirby made this amply clear, urged a “meaningful dialogue” on Kashmir and expressed misplaced confidence in Pakistan’s ability and good sense to administer its nuclear arsenal.