The Indian IT industry on Thursday expressed delight at US President George W. Bush's re-election, hoping he would continue to be a proponent of free trade and outsourcing.
"The US is a powerhouse of the global economy and the Indian IT industry is delighted in being a partner to US corporations, helping to make them more competitive," India's National Association for Software and Service Companies (NASSCOM) president Kiran Karnik said in a statement.
Of the total Indian software exports, the outflow to US accounts for 68 percent and has been growing at around 30 percent a year.
Karnik hoped that Bush's re-election would add to the momentum of growth in the industry.
"Bush's track record during his presidential tenure has proven that he is a proponent of free trade. We are confident that President Bush will continue with his pro-trade stance during his second term," he said.
Quoting findings of various research reports, Karnik said the US economy only stands to gain by off-shoring work, and job loss, if any, due to outsourcing was very small.
The NASSCOM chief also hoped that the Bush administration would be supportive of visa issues, enabling unhindered movement of IT professionals who he said play a key role in contributing to the growth and development of the US economy.
"We are convinced that President Bush will continue to work towards building an enhanced and comprehensive trade relationship with India," he said.
{{/usCountry}}"We are convinced that President Bush will continue to work towards building an enhanced and comprehensive trade relationship with India," he said.
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