India Inc hails Obama victory

BANGALORE, INDIA: The Indian IT industry is all praise of Barack Obama, who created history with his victory in the US Presidential elections today.

N. R. Narayana Murthy, chairman, Infosys Technologies, said this is an extraordinary day, referring to the electoral victory of Barak Obama.

“The US has voted for compassionate capitalism over laisze faire capitalism. Besides, this election has shown that meritocracy matters most,” he said in a statement.

“We believe President elect Obama to be a pragmatic leader who understands that American industry needs to be competitive not just in America but in third countries as well. This election has also proved that the Internet is a powerful medium for raising funds,” he added.

Referring to the new US Government and outsourcing, Kapil Dev Singh, country manager of IDC (India) Limited, a subsidiary of CyberMedia Ltd, said,“ Even though politics and business issues are related at a policy level they do not affect individual business decisions, especially in the USA.”

He pointed out that America is known to advocate free market principles and individual choice. Many US corporations tap new resource or demand markets and for them both offshoring and outsourcing are a business decision, he observed.

“I do not think policies of the new government will have a profound effect on the prospects of this individual business choice. Only business issues can affect this.”

According to Mohan Sekhar, president and COO of Collabera, an end-to-end information technology services and solutions provider, Barack Obama’s win in the US presidential elections symbolize the changing expectations of people globally.

“It’s been a vote for inclusivity, economic stability and security in US,” he said, adding, “Obama’s elections should not have much of an impact on Indian IT industry given the state of maturity.”

Earlier, NASSCOM had also congratulated Barack Obama on his historic victory in the US presidential elections.