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From : instablogs
Added: Nov 7, 2008
http://www.instablogs.com/ India sees a new global crisis manager in Obama Barack Obamas victory epitomises the journey of an African American to the White House. His victory has become a source of inspiration for a whole new generation. The results of US Presidential elections have raised both fresh hopes and reservations for the people across the globe. The democratic win may not sound like music to the ears of Indian BPO industry. Even though Manmohan Singh may have endorsed Obamas triumph nothing can disguise the fact that this victory will certainly have disturbing prospects for Indian outsourcing industry. Protectionism has been riding high on democratic political agenda. Obamas comments too have cleared the air in this context. The fact that he has pledged to include labor standards in free trade agreements can be seen as a means of shielding American companies from competition overseas. Tumbling shares of Tata Consultancy Services and Wipro combined with the cutbacks in outsourcing industry due to reduced spending by American financial services firms the going would be tough for this sector.
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