The Indian IT industry on Wednesday leaned on US President-elect Donald Trump’s business credentials to hope he would not push through with his pre-election anti-outsourcing rhetoric, given the key role the sector plays in keeping American economy competitive. The captains of the industry felt that Trump’s victory is unlikely to affect the fortunes of the USD 110 billion Indian technology sector as the US faces crunch of highly-skilled workers and for the fact that the Republican himself is a businessman and will be “pro-business”.
“We are optimistic that President-elect Trump’s administration will focus on making the strategic relationship with India a high priority, including providing a boost to US- India bilateral trade and investment,” Nasscom said. Trump, who during his high-decibel campaign had advocated tightening of visa norms for skilled workers and bringing jobs back to America, today beat rival Hillary Clinton in the race to be the US President.
Many had feared that Trump’s coming to power could lead to job losses for Indians and a protectionist approach by the US, a market that accounts for about 70 per cent of Indian IT industry’s revenue. However, Nasscom claimed that many of Trump’s observations during the campaign concerning high-skilled immigration and outsourcing were based on “fabrications put out by critics” of the sector.
BPO industry stalwart Raman Roy said the sector is integral part of the economic growth story of the US. “I have no hesitation in saying there will be no issues. He (Trump) cannot produce a million people overnight to do the job. He cannot say we will shut off the switch… there is commerce that is going to happen… card queries, insurance and mortgage queries that have to be answered that are being done from here (India),” Roy added.
Industry veteran and former HR head of Infosys TV Mohandas Pai feels that it is still early days. He added that India’s prowess is well-established in technology and the country plays a crucial role for US enterprises.
Genpact founder Pramod Bhasin said that while he was “stunned” by the election outcome, he did not expect any negative ramification for the Indian technology players as Trump being a businessman “will always be pro-business”.
Given the softer conciliatory tone adopted by Trump towards the end of his election campaign, the industry said it is keen to work with the new administration to highlight the sector’s contributions to the US economy and ensure the US leaders understand the depth of investments made by Indian firms. “Our sector plays a key role in helping US businesses innovate and grow and make corporate America more competitive,” Nasscom said.