India Inc captains, on Wednesday, hailed Barack Obama’s re-election as the 44th President of the U.S. with optimism that his second term in the White House would further strengthen strategic and economic ties with India.

Claiming that Indian Americans had voted for Mr. Obama, Federation of Indian Chambers of Commerce and Industry (FICCI) President R. V. Kanoria exuded that the support would foster cooperation in spheres like higher education, defence, nuclear and agriculture.

Hoping that the U.S. President would take a practical stand on issues such as outsourcing, Mr. Kanoria said it was in the interest of both the countries stressing that it not only brought down the cost of industry there but also helped create more jobs there.

Congratulating Mr. Obama, Confederation of Indian Industry (CII) President Adi Godrej focussed on the democratic heritage and entrepreneurial spirit that bound the two nations together, besides the people to people linkages.

Hoping Mr. Obama to steer the revival of the U.S. economy, Mr. Godrej urged the need to lower trade and investment barriers to ensure conducive growth of business in both the countries.

In his congratulatory statement, Associated Chambers of Commerce and Industry of India (Assocham) President Rajkumar Dhoot hoped that the U.S. economy would recover fast during Mr. Obama’s second term in office underlining that the Indian economy was deeply integrated with it.

Besides highlighting India’s software exports to the U.S., Mr. Dhoot maintained that the reforms rolled out in India would provide investment opportunities to countries like the U.S.

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