Obama to stop outsourcing, India Inc worried

[OhioChick]

Wed, Feb 25, 2009 at 20:48

New Delhi: President Barack Obama's latest stand on outsourcing is worrying India- with the US already in recession and the President's announcements against outsourcing, the US is in protectionist mode.

“We will restore a sense of fairness and balance to our tax codes by finally ending the tax rates for corporation that ships our jobs overseas,” says President United States, Barrack Obama.

A strong warning by President Obama that will discourage US companies from outsourcing jobs to cheaper countries like India. In his first Congressional address, President Obama says it's time for America to lead again.

“We don’t accept that future where the jobs and industry of tomorrow take root beyond our borders and I know you don’t even, its time for America to lead again,” adds Barack Obama.

The President's constant anti-outsourcing tirade is a worrisome for India Inc. The industry's worries are understandable especially since India gets more than 60 per cent, or $64 bn, outsourcing work from the US.

This is not the first protectionist move the US has made since Obama took charge. Recently, it introduced an H-1B hiring ban for companies receiving bailout money.

The ban is likely to hit India's techies hard. Of the 65,000 H1-B Visas issued annually by the US government, 21,667 are to Indian techies.

For the Indian IT Industry, already hit by the recession, President Barack Obama's stand on outsourcing could not have come at a worst time.

http://ibnlive.in.com/news/obama-to-stop-outsourcing-india-inc-worried/86277-2.html

:nopity:

[Parche]

1. slumdog IT?

:woohoo: :hi:

[harun]

2. I'll believe it when I see it.

[Double T]

5. Me too!

[Double T]

3. TS! About time someone got tough with traitorous corporate america.........

and the corrupt wall street greed machine. Until our jobs, factories and facilities return to America there will be NO meaningful financial or economic recovery. india, inc., china, inc. and asia, inc. need to be downsized permanently.

[OhioChick]

4. Agreed.

No Jobs = No Recovery.

[YOY]

6. Sorry, but I just can't feel too sorry for them.

n/t

[babylonsister]

7. No sympathy here. Maybe those tech folks shouldn't have

gotten so comfortable in these jobs in the first place. I'll join the symphony...:nopity:

[Rashel]

10. Yep. They didn't seem too worried about us when they took our jobs.

[DainBramaged]

8. In 2001 I worked for a small medical device engineering and design firm

At the end of September 2001, 15 of us were laid off because the owner claimed he contracts we had with companies like Johnson and Johnson and others were cancelled because of 9/11.


Two weeks ago, I found out it was a complete lie. He shut down to go on a European vacation with his wife, and in November 2001 reopened replacing ALL of us with H1B visa engineers and technicians.

I wish all of those already here that they lose their jobs and are forced to go back home so that qualified people here can work once again. And I have NO sympathy for their 'industry'.

[Beregond2]

9. There isn't another country in the world that allows it's companies

to pack-up and go where the wages are low and the benefits nonexistent. Nothing irritates me more than when people cry "protectionism!" when someone suggests the U.S. should be on the same playing field as everyone else.