Kudos to the new president of US , Barack Obama, of Democratic Party, for his outstanding victory in presidential elections over John McCain of Republican Party. This race for presidency is stated to be the largest ever media focused election. It also saw some very dramatic ups and downs and even withdrawal of candidature much talked barrister of US and Hillary Clinton the wife of Bill Clinton, the ex-president of US.
Much have been written and talked in every sphere of business and political bureau that the new election will have good and bad impacts on the India. Outsourcing industry of India is in panic since , the statements of Obama have had been twisted by media and intellectuals in such a manner that a havoc got created that outsourcing work to India will be curtailed.
The negative sentiment of such interpretation has also impacted the stocks of TCS, Wipro etc especially when due to meltdown of US economy, entire worlds economy was shattered and Indian stock exchanges were no exception to it.
On careful study of all the speeches so far given by Obama, nothing specific has been found which can conclude that outsourcing industry will have to see dark moon.
Rather, Obama has stated in his statements that India and China are going to boost the economy of USA. If this single statement is analysed then it means there will be growth in mutual business relationships between India and USA . If such is the statement of Obama where he is considering India amongst one of economy partners , then an imagination of grey days for outsourcing sector of India is not sustainable .
This all started with the speech of Obama that had two statements
“US tech firms have thousands of jobs, but not enough talent at home” “tax sops will not be given to companies that outsource work out of the country”
But at the same , he has openly given a statement
"I will start giving them (tax breaks) to companies that create good jobs right here in America"
So going by the employment factor being generated by Indian companies in US, there seems that the worry of outsourcing industry is useless. At the most , worst to worst , the companies which are not creating employment for US citizens may face the mar of any policy if made against outsourcing companies.
The compulsion of US to outsource work is also an admitted fact by Obama by the remark that "………..,but not enough talent at home” . Hence, to carry out growth , the US companies will be requiring talents as talents are not there in US. The above fact is also substantiated by the recent statement to press by IT tycoon and Microsoft founder Bill Gates that “
“Recently , I was introduced with five best talented person of Microsoft and Four were Asians “
So, the compulsion of US should be rather a matter of growth for Indian Outsourcing Industry. As told to PTI, NASSCOM President Som Mittal has stated that "We are not sure whether he had meant outsourcing in the software sector or the manufacturing sector. But I don't think the software exports will be affected or slow down...
At the same, it should be noted that Indian major outsourcing companies, say Infosys, TCS and Wipro, have major revenue to the tune of 70 % coming from US. This was the reason that the Indian software and services exports segment grew by 29 per cent in F.Y 2007-08 than what it had in F.Y 2006-07.
In overall scenario and going by the given circumstances, US cannot afford not to outsource work to India and if stops then in that case, from where it will generate the talents to cater the needs of its industry which requires talent for growth. Even, if Obama had in his mind to check outsourcing to India , he will have to revisit his views after knowing the naked truth of over dependency of US companies over India for outsourcing in IT sector.
On the contrary , Indian Healthcare and Pharma companies have every reason to cheer over the victory of Obama in US as he has pledged to strengthen global fund. This fact has been attested by Bill Gates who on 4th November 2008 was in India and reacting to Obama has said to have stated that his win will help strengthening the global health fund and improve healthcare in India and abroad as well.
As regards to other industries, be it power sector also, the impact will not be negative after the new governance in US
Kudos to the new president of US , Barack Obama, of Democratic Party, for his outstanding victory in presidential elections over John McCain of Republican Party. This race for presidency is stated to be the largest ever media focused election. It also saw some very dramatic ups and downs and even withdrawal of candidature much talked barrister of US and Hillary Clinton the wife of Bill Clinton, the ex-president of US.
Much have been written and talked in every sphere of business and political bureau that the new election will have good and bad impacts on the India. Outsourcing industry of India is in panic since , the statements of Obama have had been twisted by media and intellectuals in such a manner that a havoc got created that outsourcing work to India will be curtailed.
The negative sentiment of such interpretation has also impacted the stocks of TCS, Wipro etc especially when due to meltdown of US economy, entire worlds economy was shattered and Indian stock exchanges were no exception to it.
On careful study of all the speeches so far given by Obama, nothing specific has been found which can conclude that outsourcing industry will have to see dark moon.
Rather, Obama has stated in his statements that India and China are going to boost the economy of USA. If this single statement is analysed then it means there will be growth in mutual business relationships between India and USA . If such is the statement of Obama where he is considering India amongst one of economy partners , then an imagination of grey days for outsourcing sector of India is not sustainable .
This all started with the speech of Obama that had two statements
“US tech firms have thousands of jobs, but not enough talent at home” “tax sops will not be given to companies that outsource work out of the country”
But at the same , he has openly given a statement
"I will start giving them (tax breaks) to companies that create good jobs right here in America"
So going by the employment factor being generated by Indian companies in US, there seems that the worry of outsourcing industry is useless. At the most , worst to worst , the companies which are not creating employment for US citizens may face the mar of any policy if made against outsourcing companies.
The compulsion of US to outsource work is also an admitted fact by Obama by the remark that "………..,but not enough talent at home” . Hence, to carry out growth , the US companies will be requiring talents as talents are not there in US. The above fact is also substantiated by the recent statement to press by IT tycoon and Microsoft founder Bill Gates that “
“Recently , I was introduced with five best talented person of Microsoft and Four were Asians “
So, the compulsion of US should be rather a matter of growth for Indian Outsourcing Industry. As told to PTI, NASSCOM President Som Mittal has stated that "We are not sure whether he had meant outsourcing in the software sector or the manufacturing sector. But I don't think the software exports will be affected or slow down...
At the same, it should be noted that Indian major outsourcing companies, say Infosys, TCS and Wipro, have major revenue to the tune of 70 % coming from US. This was the reason that the Indian software and services exports segment grew by 29 per cent in F.Y 2007-08 than what it had in F.Y 2006-07.
In overall scenario and going by the given circumstances, US cannot afford not to outsource work to India and if stops then in that case, from where it will generate the talents to cater the needs of its industry which requires talent for growth. Even, if Obama had in his mind to check outsourcing to India , he will have to revisit his views after knowing the naked truth of over dependency of US companies over India for outsourcing in IT sector.
On the contrary , Indian Healthcare and Pharma companies have every reason to cheer over the victory of Obama in US as he has pledged to strengthen global fund. This fact has been attested by Bill Gates who on 4th November 2008 was in India and reacting to Obama has said to have stated that his win will help strengthening the global health fund and improve healthcare in India and abroad as well.
As regards to other industries, be it power sector also, the impact will not be negative after the new governance in US
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