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India sees offshoring controversy dying down

India sees offshoring controversy dying down after U.S. presidential election.

The blue states may be gnashing their collective teeth in anguish but business reaction in India to George Bush's re-election has been nothing short of ecstatic.

With John Kerry out of the picture, the Indian consensus is that the prevailing trade winds (political, of course) out of the United States aren't likely to dramatically shift when it comes to overseas outsourcing. Kiran Karnik, president of India's National Association of Software and Service Companies disclosed at a New Dehli press conference on Thursday that some technology firms have been slow to sign or announce deals with local firms in the months leading up to the American presidential elections. The hope is that with the election behind them, that business reluctance to sign up new business will melt away.

"We are glad that President George Bush is back in office as we know his policies," he said. "After his re-election, we would see more announcements by companies on outsourcing."

Another reason: Karnik said software exports to the US from India account for 68 per cent of the nation's entire software exports, which have been growing around a 30 per cent annual clip.