Outsourcing big concern post-Bush: Moody’s arm
Outsourcing by US companies will be the biggest concern for India due to the change in the US administration next year, says a global research firm.business Updated: Nov 16, 2008 20:27 IST
Outsourcing by US companies will be the biggest concern for India due to the change in the US administration next year, says a global research firm.
“For India, the biggest concerns perhaps in over its important outsourcing industry, as the practice of shifting jobs overseas had come under fire during the US presidential campaign,” Moody’s economy.com, a subsidiary of global research firm Moody’s Corporation, has said in a report.
In February this year, continuing to play the anti-outsourcing card, Obama, the then Democrat presidential front-runner, had said, while America cannot “shy away” from globalisation, it would have to take measures to ensure that jobs are not shipped overseas.
“We have to stop providing tax breaks for companies that are shipping jobs overseas and give those tax breaks to companies that are investing here in the United States of America,” Obama had said during a debate.
However, Planning Commission Deputy Chairman Montek Singh Ahluwalia said that the US has given an assurance to India that the policies to strengthen bilateral ties will continue and felt that outsourcing will not be an issue.
“They (US) assured us that the new administration would continue to strengthen the relations between the two countries,” Ahluwalia told reporters on his meeting with former US Secretary of State Madeline Albright, deputed by President-elect Barack Obama to meet world leaders currently in Washington for the G-20 summit.
First Published: Nov 16, 2008 20:26 IST