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HOUSE OF THE WEEK

Monday 9 July 2012

Barack Obama launches anti-offshoring ads on TV

Official photographic portrait of US President...          (Photo credit: Wikipedia)BANGALORE: Some had predicted that the anti-offshoring campaign in the US would become more intense closer to the  presedential elections in November. That's indeed what's happening.

The Democrats under US president Barack Obama have just launched a 30-second TV campaign titled 'Believes', which talks about how Obama insourced jobs, while Republican rival Mitt Romney  shipped them to low-wage countries during his tenure at Bain capital. The narrator in the ad says Obama kept jobs in the US by saving the auto industry and gave tax breaks to companies that kept jobs there. The ad is currently being aired in nine states.

The US Congress is also set to vote on a bill called the Bring Jobs Home Act, which will end tax breaks for firms that move jobs overseas and provide an incentive for those moving jobs back to the US by giving them a tax credit equal to 20% of the cost associated with bringing the jobs and business activity back to the US. The bill is sponsored by two Democratic lawmakers and supported by the largest federation of trade unions in the US.

The US's offshoring concerns relate both to the manufacturing side, where the country has lost out to China in particular, and to the services side, where the Indian IT-BPO industry has been a big beneficiary.

Phaneesh Murthy, CEO of iGate, says corporate America would react to the offshoring campaign in three ways: "Some enterprises will not bother about the campaign and will continue to outsource their requirements to India. Some will offshore, but will keep it quiet. And some will stop all offshoring till the elections are over."

Som Mittal, president of IT industry body Nasscom, dismisses the campaign saying such campaigns had been happening for many years. "They are mostly targeted at the opposition. We need not take much notice of these things. Rather it is important for us to concentrate on how to be competitive in a tough, highly volatile economic scenario, how to improve customer relationships and how to enhance the quality of our deliverables.''

Amneet Singh, VP at global outsourcing advisory Everest Group, says Indian companies are much more resilient today and don't get swayed by such campaigns.

But Indian companies have already been hit in some ways. In August 2010, the US government passed a bill that raised fees for H1-B and L1 visas by $2,000 to fund its Mexican border security costs for five years. This raised costs for Indian IT companies that use these visas to send employees to the US on work.
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Edited By Cen Fox Post Team

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