Outsourcing to India will take a beating as US President Barack Obama, while addressing the Joint Session of US Congress on Tuesday night, said in his maiden speech that the economic revival plan would translate to no tax breaks for American companies which offshore jobs.
India Inc is quite disappointed with the same as this package nips in the bud any potential plans for prospective US companies which might have thought of investing in India. The reaction that emanated from India had a disappointing tone. Several noted industrialists condemned the speech and said that it could spell doom for the BPO industry here.
