After hedge fund Elliott Management asked for increased share buy backs at Cognizant, other domestic and foreign institutional investors are also demanding the same from the IT giants.
US President Barack Obama welcomed the multilateral trade agreement, saying it would eliminate red tape and bureaucratic delay for goods shipped around the globe. "Small businesses will be among the biggest winners, since they encounter the greatest difficulties in navigating the current system."
The bill's so-called outplacement provision is discriminatory and will make it impossible for many businesses to recruit the high-skilled workers they need to perform highly technical tasks onsite from the global labor pool, potentially driving tens of thousands of American jobs overseas.
CNBC-TV18's Shreya reports that IT companies are positive on meeting NASSCOM's growth projection of 12-14 percent despite the threat of protectionism in the US.
US President Barack Obama accused his November election rival Mitt Romney on Monday of having outsourced jobs to India and China and sought to convince voters that the former private equity executive is out of touch with their economic concerns.
Seizing a news report that a company founded by Mitt Romney shipped American jobs to countries like India and China, President Barack Obama went into attack mode against his likely Republican rival.
China on Friday issued a harsh rebuke of an anti-dumping complaint filed by US solar firms, warning the United States not to take protectionist measures that could harm the global economy.
Defying Chinese anger and White House warnings, the US Senate moved to approve legislation to punish China for alleged currency manipulation widely blamed for costing American jobs.
President Barack Obama called on Saturday for new efforts to open global markets to US goods, highlighting trade before a big speech on Tuesday that will lay out his policy priorities for the coming year.