The Finance Minister P Chidambaram has welcomed Obama’s election as US President. He said that Obama’s comments on outsourcing would not affect Indo-US economic ties. "I am confident that the US India relations will only strengthen in the future, a comment about outsourcing etc shouldn’t bother us. Once he is in office, he will realise that in this interconnected world, countries have to work together and the US is the world’s largest economy and India is the world’s largest free-market democracy have to work together and I think we will gain by the new administration.”
"I cannot speak for the government but I can speak as an individual, and as an individual I think this election is a transformational change in the United States. Many ghosts in the US have been exorcised by this election. It is a tribute to the US Democracy that a young, forward looking change agent, a black American has been elected."
“IT is one sector that is facing the maximum challenges at this point in time.” He advices investors to be slightly underweight in that segment and buy the stock only when they are at extremely attractive.
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