India Inc cheers Obama's re-election as US President

Overcoming a stiff challenge from Republican presidential candidate Mitt Romney, Barack Obama has been re-elected for a second term in office. India Inc cheers Obama's win and believes the decision will be beneficial for India as matters related to outsourcing and job creation will get a boost.

Here is what India Inc feels about Obama's victory: Sunil Bharti Mittal, CMD, Bharti Airtel: While there was some dead hit being reported in the last few days, I think it was reasonably clear that President Obama will make it to the second term and I think this is good for India.
There will be continuity and the India-US CEO Forum, on which I am a member, will continue to take the agenda forward. In the previous elections, we saw Mrs Clinton going very heavy on outsourcing and once they were in power, we did not see any of that impacting our outsourcing businesses or relationship. N Chandrasekaran, CEO, TCS:  We have said that the economy will grow after the elections and we will see increasing adoption of technology. Outsourcing is a model that is well adopted not only from the Indian perspective but also from a global perspective. There will be increase in demand and there will be increased job creation both in India, US and other parts of the world. Rahul Bajaj:  I think on trade matters and issues like outsourcing, a Republican administration led by Romney, who is the private sector man, would have been better for India than the Obama administration. For India, everything else continuing with the Obama administration is as good as Romney's and it is not better. Navin Jindal, Chairman & Wholetime Director, Jindal Steel & Power:  Obviously all these issues regarding the economy will take time to resolve. But as far as outsourcing is concerned, I am not particularly worried about that. These things cannot change overnight. Hence, any company which is outsourcing work to India or any other country has a very good reason to do it. Obviously, all these things will take time and everyone would have to be taken onboard to make changes. Adi Godrej, Chairman of Godrej Group and President, CII: I think it will be good for India and we only hope that in the next two months Obama is able to overcome the fiscal cliff. He has about two months to do it and if that is done, it will help the US economy to revive and help India also.