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NEW DELHI: Terming apprehensions about job losses due to IT outsourcing to India as unfounded, the Finance Minister, Mr P Chidambaram has asked Norwegian IT companies to take advantage of offshoring.

"IT outsourcing to India could improve Norwegian industries' competitiveness and their capacity to adapt to ongoing global trends,'' Mr Chidambaram said at a seminar on IT in Oslo yesterday.

India has been Norway's first source of skilled professionals for the past one year, he said. He said contrary to apprehensions, more jobs have been created as a result of IT outsourcing.

During the seminar, acquisition of Bangalore-based IT company SPAN by Norway's largest IT company EDB Business Partners ASA, was announced. This is the largest ever IT acquisition by Norwegian IT company in Asia involving over 500 IT professionals worki ng with SPAN, according to an official release here today.

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