Shanghai may take a hit, not Bangalore: Nasscom

Shanghai to be worst hit

Allaying concerns over the US President, Barack Obama's Bangalore-to-Buffalo remark, the National Association of Software and Services Companies said it had nothing to do with outsourcing or India, but expects a single digit growth for exports in the year ahead as customers reel under the impact of the downturn.

"It is Shanghai and not Bangalore that would be more affected by Obama's tax reforms," said Pramod Bhasin, Chairman, Nasscom. Addressing a press conference on the sidelines of a Nasscom event, Bhasin said that China had received more foreign direct investment from US companies than India.

Image: A smiling Barack Obama

Text: Business Line

Images courtesy: Getty/AFP/AP

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