Obama vows to stop outsourcing, India Inc irked

Obama vows to stop outsourcing, India Inc irked

Obama vowed to end tax breaks for cos that ship jobs overseas if elected.

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Washington/New Delhi: In remarks that are bound to raise hackles in India, Barack Obama made a strong anti-outsourcing pitch after securing the Democratic Presidential nomination vowing to end tax breaks to companies that ship jobs overseas if elected to office.

Playing to the gallery on the hot button issue of outsourcing in his acceptance speech, Obama kept up with the rhetoric on the subject that has been a staple of Democratic campaigning and went on to spell out what he would do as President on the front.

"Unlike John McCain, I will stop giving tax breaks to companies that ship jobs overseas, and I will start giving them to companies that create good jobs right here in America," said Obama, who has been fiercely opposing outsourcing.

The remarks drew a loud applause at the Denver Democratic National Convention.

Often playing the anti-outsourcing card since he entered the Presidential race, Obama has said that while the US cannot "shy away" from globalisation it would have to take measures to ensure that jobs are not shipped overseas.

Reacting to the fresh offensive from Obama, NASSCOM President Som Mittal said Indian software exports are unlikely to be affected by this as offshoring is a key economic decision for US companies.

Mittal feels American companies will themselves favour outsourcing.

"US companies are facing shortage of talent to drive the growth. It is in their interests," Mittal said.

Facing the heat from US presidential hopefuls who blamed "shipping jobs" to China and India for rising US unemployment, the India Inc had on previous occasions launched a counter-offensive telling Americans that the industry is in fact creating new work opportunities for them.

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