The  information technology and business process outsourcing (BPO) industry of India believes the election of Barak Obama as the U.S. President would open up new opportunities for them and that the economic and business cooperation between two nations would only grow.

Indian IT and BPO industry earns revenues of over $40 billion from its software and services exports, of which over 60 per cent comes from the U.S. So, when Mr. Obama spoke about stopping tax breaks to the U.S. companies shipping jobs away and giving incentives to those investing in the country during his election campaign, many eyebrows were raised in India.

“I don’t see any negative impact of this victory on Indian IT-BPO industry. What I see is more opportunities for us as Mr. Obama’s priority is to bring the US economy back on track. Indian IT and BPO industry will play a crucial role in it,” said National Association of Software and Service Companies (Nasscom) President Som Mittal.

“It is a globalised world. It is not just that Indian companies are operating in the U.S. or are getting outsourced jobs. Many leading Indian companies and professionals have helped transform big U.S. companies. Many studies have showed and people in U,S, also know that outsourcing has rather helped protect their jobs then lose them by improving their competitiveness and productivity,” he explained. Source