American businesses have a far higher reliance on India than on China.
Most private US companies are heavily dependent on India for their IT services needs, according to an April 12 report by Washington DC-based public policy think tank Information Technology & Innovation Foundation (ITIF). These companies have either set up in-house tech operations in India, or are dependent on Indian IT firms, or on Indian operations of American IT companies.
“(O)nly five US industry sectors—all manufacturing-based—have become dependent on China, whereas just about every industry now relies on India for IT,” the report noted.
Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.