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'Obama re-election not best news for IT outsourcing world'
"The concern over the deficit and jobs will continue (in the US) and in my mind, will force the sluggishness to remain in the economy," he said. Obama on Tuesday won a second term in office overcoming a stiff initial challenge from his Republican challenger Mitt Romney.
Obama in this presidential elections campaign had criticised outsourcing of jobs to countries like India saying that US needs to create jobs locally. The US and Europe account for over 80 per cent of revenues of the Indian IT industry.
PTI
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