India's IT sector cheers rejection of Outsourcing Bill in US Senate

The rejection of the Outsourcing Bill in the US Senate on September 28, that would have stopped tax concessions to American companies that resorted to outsourcing of their jobs, has brought cheer to the Indian Information Technology sector. The failure to get the anti-outsourcing bill the 60 votes in the US senate is obviously good news for India's IT industry which exports services worth dollar50 billion and the US alone accounts for 60 per cent of that. IT analyst Karthik Shekhar opines that though this is a big breather but at the same time the stand taken by President Barack Obama and his Democratic party on the issue continues to worry the industry as Obama has always been opposed to shipping job abroad.