Obama against outsourcing says no tax cuts for such Companies

Bad time brings people together and this move by Obama is of their National interest. Implementation of what he said, will create more opportunities in USA for IT work, which will be a direct cut on the work being done at outsourcing companies. The only question then remains for the US companies who are forced to use local manpower is, whether this effort is economically viable.    

Sad but yes. America has to return its jobs back to the americans that are goverment dependant , or living off unemployment. With 3.5 million out of work here, you can bet huge cuts.

Darpan & Chand, there is already reduction in offshoring & Indian Cos are not able to get deals from foreign counterparts. Earlier also Industry leaders predicted that the IT sector would not be affected by the global financial turmoil as companies in developed countries would outsource more of their functions abroad to save money during the crisis but this theory has been proved wrong once again when you can see so many layoffs, cost cutting etc in India & other countries where projects were outsourced earlier for example the latest one Accenture is laying off almost half its workforce in the Philippine capital due to the effects of the global financial crisis. The moves like not availing tax cuts will add more to injury & will not be of any help to the sector. Also I have to agree with Brijesh on the sentiment factor.....

Indian companies are doing layoffs, cost cutting etc & still you are saying it will not be effected. I don't understand why??? Darpan you gave the right logic but what about the sentiment factor for American companies towards their people & Obama pressure. Bcoz of this factors also we might be affected as Amit singhai rightly mentioned that their economy is in dire state.....what do you say????

Yes it will have an impact on our market . But this is true, that foreign economy is now severely effected than ours. So if they will cover up their losses and stabilize their economy , it surely have a good impact on our industries  who are depending on theirs (specially IT and others). So on the otherside it may be a good sign in future to stabilize the both.

I was very hopeful for the world and for America because if the US economy picks up then it is going to be very good for India but with this news I feel this will have negative effects on us. What do you say ????