US president Barack Obama has bad news for Indian IT and BPO industry. Its as simple as that. In his speech to US Congress about economic stimulus and financial recovery, he made it clear that there will be no tax breaks for the US companies that outsource their jobs abroad. This means, the US companies will be discouraged from outsourcing their work to India and other South Asian countries. Obama also said that his Stimulus deal will create and save 3.5 million jobs. Obama declared that he had already found US$2 trillion in savings. SO this option is likely to stay for now.

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