Obama’s anti-outsourcing policy will hurt US economy

Posted on August 31, 2008. Filed under: Business, Politics | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Obama in his acceptance speech following his nomination as Democratic candidate for US presidential post said that he, unlike the Republican candidate John McCain, “will stop giving tax breaks to corporations that ship our jobs overseas, and I will start giving them to companies that create good jobs right here in America.” If Obama indeed does that in the event he becomes president, it will adversely affect the massive flow of work to Indian IT and BPO firms. Though Indian IT companies have been trying to geographically diversify their revenue by moving towards Europe, still 60 % of their revenue comes from US.

Indian Technology companies pointed out that if Obama were to do any such thing, it would hurt American economy. Nasscom president Som Mittal said “Obama earlier said India and China will help the growth of US. US Tech firms have thousands of jobs, but not enough talent at home.” The US realized long ago that outsourcing has boosted it’s economy.

Nasscom President said “We are not sure whether he (Obama) had meant, outsourcing in the software or manufacturing sector.” He also added “Such decisions are determined by economic considerations by (US) companies and they will find a way to remain competitive. Outsourcing is one of those ways.”


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One Response to “Obama’s anti-outsourcing policy will hurt US economy”

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This is absolute BS. There are more than enough out of work IT people to fill the jobs that were outsourced to save a few pennies. So the corporations may lose a couple bucks. They should if they are going to throw away American workers like a used tampon

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