India optimistic about outsourcing despite financial crisis

With America's economy in crisis, it would seem that India has a lot to worry about. The country's annual revenues from outsourcing , and a downturn in the U.S. economy could damage India's outsourcing industry.

But at the India Economic Summit in New Delhi this week, Indian officials and corporate executives remained optimistic about the future of outsourcing.

Montek Ahluwalia, Deputy Chairman of India's Planning Commission, predicted that India's economic growth for 2008-2009 will be between seven and nine percent. That's good for the country, Ahluwalia said in a .

"Even if you take growth at 7%, it is 2% less than what we have had but still higher than what we had four years ago," he said in the statement. "This is not an Indian crisis. We are being impacted by a global crisis."

Indian media has also written a great deal about President-elect Obama's stance on outsourcing. One quote in particular has been repeatedly cited by as an anti-outsourcing sentiment. During a debate with Sen. Hillary Clinton (D-NY) during the primaries, Obama said, "We have to stop providing tax breaks for companies that are shipping jobs overseas and give those tax breaks to companies that are investing here in the United States of America."

However, Indian officials remain optimistic -- at least in public -- about the country's outsourcing future.