DAVOS: Asserting that the Indian IT industry is looking at new growth models, HCL Technologies has said more companies from the country should look at creating local jobs in the foreign lands. Participating at the World Economic Forum Annual Meeting, India's fourth largest IT firm HCL Tech has announced creation of 10,000 jobs within next five years in the US and Europe. "The world is today a melting point dealing with different kinds of problems. And when we come to Forum like this, it is important for India and companies from the country such as HCL, to be seen as a solution, rather than being seen as a reason for the problem," HCL Technologies CEO Vineet Nayar told reporters here on the sidelines of the WEF summit. Recalling German Chancellor Angela Merkel's comments that the companies are welcome to invest in Europe, but they will have to create jobs, he said initiative taken by HCL would change the perception that Indian companies are taking away jobs of people in the West. "The first step we are making and I hope many other companies follow the trend. That would help making Indian companies appear much more mightier, and also as those willing to solve local problems and socially-responsible enterprises. "It would be a major shift, as there are many global companies shipping jobs outside the US, but we Indian companies would be creating jobs in those markets. This will also change the idea of 'Buy American, be American' or now 'Buy European, be European'," Nayar said. On trends within the Indian IT market, he said employee and other costs have become higher, tax holidays have gone and nations like Philippines are getting globally competitive. "Therefore, Indian IT industry is also looking at new growth models and multiple options. But, that is also making the Indian companies more global and they are not just Indian," he added.