Nasscom positive about India's outsourcing future despite Obama's win

"As the winds of change sweep across the American economy there will be multiple opportunities for Indian IT to engage in the rebuilding of the economy. Indian IT and business services firms have already entrenched their services in the heart of American value chains and can continue to provide truly transformational solutions to American corporations and the Government itself," he added.

According to Natarajan, Obama is keen on putting the US economy back on track by creating more jobs but that does not necessarily mean stopping the trend of outsourcing because the main thrust is to revive the economy.

"Most of us are working for Fortune 500 companies and are very integral to the value chain. So its not like shutting down a factory somewhere. So he (Obama) will do nothing that will disturb the success of these companies. At the same time, all of us have to realize that job creation must happen in United States and there will be different measures to take that up. I do not think anybody sensible like Obama will come in the way of current outsourcing," Natarajan said.

Nonetheless, a high-profile Nasscom delegation will be meeting top officials of Obama administration in March next year to ensure that no nasty surprises greet the Indian IT-BPO industry on the outsourcing issue, he added.

N.R. Narayana Murthy, chairman of India's IT bellwether Infosys Technologies, shares the same view. "We believe president-elect Obama to be a pragmatic leader who understands that American industry needs to be competitive not just in America but in third countries as well," Murthy said.

Agrees Samir Chopra, president of Business Process Industry Association of India (BPIAI). "My belief is that the election of Senator Obama does not in any way pose a threat for the Indian IT/ITES industry. Indian industry today is deeply entrenched in business critical work for global customers and in his efforts to bring the economy back in shape he is unlikely to take actions which will impact the global competitiveness of US companies," Chopra said.