Industry hails Obama victory; downplays fear on outsourcing

Indian industry, particularly those working closely with US firms, hailed Barack Obama's victory as the next American President, playing down the fears of an adverse impact on flourishing outsourcing business. Relations between the two countries will grow further. Bilateral trade is expected to reach $60 billion this year, President of the Indo-American Chamber of Commerce S K Jain said. India-US trade stood at $45 billion in 2007-08.