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Indian IT Inc. Pegs Hope On Obama 2.0
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The American president has restricted trade relations with India, in order to re-assess its domestic economy outlook.
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Thursday, November 08, 2012:
The sight of Obama getting re-elected was received with plenty of expectations and apprehensions, within the IT industry in India. Leading industry names voiced their views on how the development is set to affect the Indian IT outlook.
“There is going to be a lot of focus on economic growth, job creation and continuity of drive. Lot of economic activities in terms of financial performance and better growth rates will happen and Indian IT companies will have the opportunity to play a significant role and partner with the US companies,” said N. Chandrasekaran, chief executive officer and managing director, Tata Consultancy Services. TCS alone has created 2,500 jobs in the US in the recent past.
“There is nothing negative for the Indian IT companies as we are creating local jobs there. Lot of reforms are happening around energy, healthcare and utilities, which will benefit us,” said Ganesh Natarajan, vice-chairman and chief executive officer, Zensar Technologies.
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“With the global economy still under stress, it is more important than ever that India and the US find ways to partner together to spur innovation, foster economic growth, develop an educated and skilled workforce,” NASCOMM said in a statement.
Infosys, which has maximum number of issues with the US regarding visas, also hoped for better future. “With the elections behind us, the uncertainty is over. I am hopeful that they will have more pragmatic approaches to the problems being faced in the US,” said Kris Gopalkrishnan, executive co-chairman Infosys. However, he also said that there would not be any immediate impact to IT industry and it will be business as usual as of now.
Amongst all the cheer, Phaneesh Murthy, president and chief executive officer iGate, said Obama’s win is not the ‘best news for India or the IT outsourcing industry’. The concern over the deficit and jobs will continue and will force the sluggishness to remain in the economy, he said. “However, we need to understand how much of the election rhetoric continues into 2013 and that will determine the full implications to us,” he added.
"There will be no negative impact of the US election on Indian IT. A lot of the negative sentiments was poll rhetoric that will die down completely now. In fact, now that the election is over, enterprises will get back to ‘business as usual’, which is good news overall for the Indian IT industry," said Partha Iyengar, vice president, Distinguished Analyst, CIO Research, Gartner India.
Aadeetya S, EFYTIMES News Network
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