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Facts About Barack Obama Pg4

Kudos to the new president of US , Barack Obama,of Democratic Party, for his outstanding victory in presidential electionsover John McCain of Republican Party. This race for presidency isstated to be the largest ever media focused election. It also saw some verydramatic ups and downs and even withdrawal of candidature much talked barrister of US and Hillary Clinton the wifeof Bill Clinton, the ex-president of US.

Much have been written and talked in every sphere ofbusiness and politic bureau that the new election will have good and badimpacts on the India.Outsourcing industry of India is in panic since, thestatements of Obama have had been twisted by media and intellectuals in such amanner that a havoc got created that outsourcing work to

India

will be curtailed.

The negative sentiment of such interpretation hasalso impacted the stocks of TCS, Wiproetc especially when due to meltdown of US economy, entire worlds economywas shattered and Indian stock exchanges were no exception to it.

On careful, study of all the speeches so far given byObama, nothing specific has been found which can conclude that outsourcingindustry will have to see dark moon.

Rather, Obama has stated in his statements that India and Chinaare going to boost the economy of USA. If this single statement isanalysed then it means there will be growth in mutual business relationshipsbetween India and USA. If such isthe statement of Obama where he is considering Indiaamongst one of economy partners, then an imagination of grey days foroutsourcing sector of

India

is not sustainable.

This all started with the speech of Obama that hadtwo statements

?US tech firms have thousands of jobs, but notenough talent at home?

?tax sopswill 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 byIndian 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 themar of any policy if made against outsourcing companies.

The compulsion of US to outsource work is also anadmitted fact by Obama by the remark that ",but not enough talent at home? . Hence, to carry out growth, the

companies will be requiring talents as talents are not there in US.

The above fact is also substantiated by the recent statementto press by IT tycoon and Microsoftfounder Bill Gates that ?

?Recently , I was introduced with five besttalented person of microsoft and Four were Asians ?

So, the compulsion of US should be rather a matter ofgrowth for Indian Outsourcing Industry. As told to PTI, NASSCOM President Som Mittal has statedthat

"We are not sure whether he had meantoutsourcing in the software sector or the manufacturing sector. But I don'tthink the software exports will be affected or slow down...

At the same, it should be noted that Indian major outsourcing companies, sayInfosys, 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 grewby 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 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 industrywhich requires talent for growth. Even, if Obama had in his mind to checkoutsourcing to India, hewill have to revisit his views after knowing the naked truth of over dependencyof US companies over

India

for outsourcing in IT sector.

On the contrary, IndianHealthcare and Pharma companies have every reason to cheer over the victoryof Obama in US as he has pledged to strengthen global fund. This fact has beenattested by Bill Gates who on 4^th November 2008 was in India and reacting to Obama has said to havestated that his win will help strengthening the global health fund and improvehealthcare in Indiaand 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

The author is a business editor of http://www.made-from-india.com

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