Obama to focus on outsourcing now: New Silk Route Partners

Excerpts from Power Breakfast on CNBC-TV18 Watch the full show » BSE | NSE 10/02/12

Parag Saxena, CEO, New Silk Route Partners feels President-elect Barack Obama will focus on outsourcing post the election rhetoric. "Now partly there is election rhetoric but he is going to focus on it to make sure that companies don't have both a combination of reducing jobs and tax incentives."

Here is a verbatim transcript of the exclusive interview with Parag Saxena on CNBC-TV18. Also watch the accompanying video.

Q: Concerns have been raised on the issue of outsourcing. Are these concerns justified? 

A: He is going to focus on outsourcing, now partly there is election rhetoric but he is going to focus on it to make sure that companies don't have both a combination of reducing jobs and getting tax incentives. But that I think is a very small group of companies. I think fundamentally trade is not addressed, it will continue and he will be portrayed - he looks to smart advisor and that's the advise he is going to get.

Q: As Head of New Silk Route you have extensive business interest in India and the kind of opportunities that are available there and the jobs that are presumably outsourced there or created there as well. In what way do you expect these kinds of businesses to be impacted, if at all?

A: Just a background first. India and American relationship are close to the high that they have been and the relationship in the Bush administration have been excellent. I think that President-elect Obama will continue that, he recognizes very much the importance of India.