Indian industry could be adversely hit, if Barack Obama becomes president of US
The views of US presidential candidate Barack Obama on the issue of outsourcing are not being taken well by the industry players. Barack Obama has shown his commitment to give priority to US citizens in corporate job. He said that he would stop giving tax breaks to foreign corporations.
Indian industry could be adversely hit, if Barack Obama becomes president of US and keeps his word. Indian IT and business process outsourcing firms are providing most of the outsourcing to US. Almost 60% of their work comes from India and Barack Obama’s commitment can derail their business. The industry players also believe that Obama would not do that as it will hurt America in a long run.
Nasscom president Som Mittal said that outsourcing has boosted the economy of America and it is clear to it. US companies can provide a lot of jobs but they are facing shortage of talented staff in their home. The director of HR in Infosys Technologies, T V Mohandas Pai said that US companies earn most of revenue from the Indian companies. Infosys Technologies said that it is optimistic that Obama will come with new policy on outsourcing which would not affect foreign companies.