The problems have grown worse," Obama said. "Meanwhile, India is not waiting to revamp its economy. China is not waiting, These nations - they're not standing still. These nations aren't playing for second place. They are putting more emphasis on math and science. They're rebuilding their infrastructure. They're making serious investments in clean energy because they want those jobs."

Indian IT Industy which was in the process of recovering from the global recession. may get a setback from Obama's anti-outsourcing policy. Because India gets more than 60 per cent, or $70 billion, outsourcing work from the US because of low-cost locations. Obama took these decision beacuse thier unemployment rate reached in double figure. US Senate has allready voted for imposing strict conditions on hiring of people with people with H-1B visas by American companies receiving federal bailout money.

An embattled US President Obama, bruised by economic, political, and foreign policy crises in his first year in office, has pledged to stop US cos from taking jobs overseas and warned Americans about increasing competition from India. Obama addressed the issue of loss of jobs to foreign markets mainly India.

My Take on this:

I am no expert or critic but spending several years in stock market and watching rise and dip of market so closely ( which is my passion) I think I can use this platform to make a point.

Obama has several short-and long term pressure to cope with, but that doesnot mean that there will be any significant impact for the outsourcing Industry. The Proposed "Jobs Bill", which is aimed at creating more local employment in USA.

However there are short-sighted that many USA companies derive significant reveues from outside the country mainly from India. Some of the top outsourcing companies are Citigroup, GE, JP Morgan. These companies will create more jobs in India because of low cost operations. Citigroup generates 52% of its revenues outside the USA. Obama will only reduce tax soap to companies who will ship job to others places. But there are many others factors why USA MNC's prefare India to expand their business. When ever any companies is investing in India they sees the overall economics of the opportunity, market potential, availability skilled and preferably lower-cost workforce and the ability of time zone difference. So, Tax is only one of the several factors.

There are two Factors which will be faced by USA.

First, the changes to the US expense allocation rules may actually prompt some businesses to consider shifting certain US overhead costs overseas in order to prevent those expenses from being deferred on their US tax returns.

Second, just when US businesses need to find additional growth opportunities elsewhere to lower their reliance on a fatigued US customer, these rules will increase the cost of doing business overseas.

Clearly, this will make US firms less nimble against competitors based in countries with more favourable tax regimes.

So, Overall there will be very less effect of Obama's Policy on Anti-Outsourcing.

Let's hope the same!

The job Market in India is now focusing on lateral entry though recruitment of freshers though it's in slow mode.

Some of the top recruiters in India however opined that due to economic slowdown salary levels in sectors like software, travel and hospitality have taken a backseat. In some sectors, professionals are paid far below the national average.

The sectors which are opening up with lots of job opprtunity coming this year:

BPO/ITES: With the establishment of outsourcing centers in the metropolis of the country, many jobs have been created in the BPO sector. Some of the top ten recruiters in BPO sector are HCL Technologies, Genpact, Tech Mahindra, Intelenet Global and Citigroup Global Services. Compensation package in BPO sectors have improved a lot.

Public Sector Banks: Even the government offices are now on a hiring spree. The Public Sector Banks including SBI and it's Associates, Indian Overseas Bank and other major banks have recruited thousands of posts both at the officer and clerical levels.

Airport Authority: The Airport Authority of India (A.A.I) recently organized a special recruitment drive for the posts of- Junior Assistant (Fire Service), Junior Attendant (MT) Auto Mechanic, Senior Assistant (Civil Engineering),Senior Assistant (Statistics).

Indian Police Force: The Indian Police department will soon go on a hiring spree as there are plans to recruit nearly 150,000 at the lower level of police administration by the end of March 2010.

This definately is a good initiative and would boost the present state of deplorable condition of police force.

Bioinformatics:

Top recruiters in India are now also focusing in areas of genomics and bioinformatics. Genomics Quality Control Centre in Delhi and Hyderabad's GVK Bio-Sciences are some of the companies which are on lookout for qualified pharma-biotech freshers.

The automobile Industry has held very good growth track in India even during recession. This Industry is hiring & also their is salary in double digit. The industry's fortunes have been helped by market leaders Maruti Suzuki(cars), hero Honda(motorcycles) and Mahindra & Mahindra notching up good growth. Maruti added more then 750 people last year and they will hire more then 940.

Export House: India's exports rose by 9.3% for the second consecutive month, after 13 straight months of decline.

Manufacturing House: India's manufacturing sector grew at its fastest pace in almost one to one-and-a-half years in January 2010.

Before you go ahead; If you are Job Hunter wishing you a very good luck for your job hunt!!