India INC halls Obama victory; plays down outsourcing concerns


New Delhi : Leaders of Indian industry, including those in the IT and IT-enabled services, on Wednesday hailed election of Barack Obama as the US President, playing down concerns over his stand on outsourcing.

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NASSCOM, the apex body of the IT and IT-enabled services, congratulated Obama stating it would “work with the President-elect and his Administration on mutually beneficial policies”.

The Indian IT industry also got a word of assurance from global IT czar Bill Gates who said despite slowdown in the US and other major economies, “the Indian IT companies will continue to grow,”. Gates is here on a mission of his foundation.

Chairman of the Hinduja Group Srichand Hinduja said with Obama’s election, “world’s oldest and the largest democracies, USA and India, will come closer to work together to reduce global conflict and poverty”.

His election “augurs well not just for the US but also for the rest of the world”.

In a veiled reference to the strong views of the US President-elect on outsourcing, chief mentor of Infosys Technologies N R Narayana Murthy said, “We believe Obama to be a pragmatic leader who understands that American industry needs to be competitive not just in America but in third countries as well.”

President of the Indo-American Chamber of Commerce S K Jain said, “Relations between the two countries will grow further. Bilateral trade is expected to reach USD 60 billion this year.” India-US trade stood at USD 45 billion in 2007-08.

Jain said Obama has been supporting Indo-US relations, including the nuclear deal. The IACC chief said he has no fears about India losing on the business process outsourcing (BPOs).