No tax sops for companies that outsource work out of the country: Obama

NEW DELHI: Barrak Obama opened the Pandora's box in his acceptance speech in the early morning hours today. No tax sops for companies that outsource work out of the country, he said, touching upon the paining pulse of many American citizens who have ostensibly lost their jobs due to them being shipped to India.

So when India woke up today and caught on to the Democratic Presidential candidate's power speech, there were nervous exchanges of what Obama's anti-sourcing pitch could have meant or not meant.

Infosys quarters started ringing with the reaction on how in a globalized world, outsourcing is a realty. HR Director of Infosys, Mohandas Pai said his company would wait and watch.

According to the nation's premier IT lobbying association NASSCOM, "Obama probably meant manufacturing and not software. NASSCOM President Som Mittal said US companies would find the right balance, but having worked with us in the past, most companies increase their competitiveness when they work with India.��� US companies themselves will back outsourcing, according to a Nasscom statement.

Earlier on August 26, Hillary Clinton's Speech at the Democratic National Convention had similar overtones. "We need to elect Barack Obama because we need a President who understands that America can't compete in a global economy by padding the pockets of energy speculators, while ignoring the workers whose jobs have been shipped overseas."