Obama has other pressing issues than outsourcing: India Inc
India Inc expressed hope that Barack Obama moving into the White House will lead to a turnaround of the US economy with a positive impact for the rest of the world and that he will not remain opposed to outsourcing.business Updated: Jan 20, 2009 20:23 IST
India Inc on Tuesday expressed hope that Barack Obama moving into the White House will lead to a turnaround of the US economy with a positive impact for the rest of the world and that he will not remain opposed to outsourcing.
"I am very hopeful for the world and for America because if the US economy picks up then it is going to be very good for India and the world. As a super power they have an impact on everyone," CII Chief Mentor Tarun Das said in New Delhi.
Das said there was not much worry on Obama's tough stance against outsourcing. "In the past also, there have been negative comments on outsourcing, but no action was taken to discourage it," the new member of the government-appointed board of Satyam Computer Services said.
He said, Obama's concern over saving American jobs is fair but not discouraging outsourcing. "We hope there will be no interference with the normal processes of business between Indian and American companies".
Das was concerned over the possibility of the Obama administration asking India to sign the nuclear Non Proliferation Treaty and the Comprehensive Test Ban Treaty.
"Though the nuclear deal is done, there are people in the Obama administration who have strong feeling that India should sign the NPT and CTBT to which we have had objections... These are two potential areas of difference," he said.
Recession in the US and several European economies has not only made life difficult for the people in the developed world but has had a crippling impact on exports from the developing countries.
Almost 90 per cent of India's 50-billion-dollar IT exports go to the US.