Just like clockwork, another India Inc victim falls.
CAT had outsourced to India Incs and Tech Mahindra had stolen most of CAT’s industrial knowhow, thanks to H-1B industrial spies from India.
Now CAT is down, and earnings are down.
Retail sales are down because India’s Tech Mahindra now makes and sells cheaper tractors in the US. They weren’t able to do that until they got their H-1B industrial spies into the US and into CAT to steal their know-how.
Just more proof cheap labor is a losing argument in the end.