Washington: Offshore outsourcing firms are feeling some heat from US political backlash and rising Rupee, but business continues to thrive, hinting that the trend is here to stay, said a media analysis.

Pointing to the profits of Cognizant, Infosys, Satyam, Syntel and Wipro, CNN said, "Offshore outsourcing firms are feeling some heat from a US political backlash and the rising Indian Rupee, but if the earnings report of an industry bellweather Tuesday is any guidance, business is still pretty good and unlikely to suffer a major setback anytime soon."

Infosys Technologies yesterday announced it has become India's first listed IT firm to have crossed $ 1 billion turnover and rewarded its shareholders with three bonus shares against each share held.

"All the firms interviewed spoke of woes but none will fall off the table, analysts believe. Put simply, the outsourcing trend is here to stay," CNN said.

"While there is a risk that political rhetoric may heat up as we get close to the US Presidential election," said Mayank Tandon, an analyst with Jenney Montgomery Scott, "it has had no material impact on the tone of business."

"Right now, demand is strong, and expectations are for revenue growth to be more than 30 per cent per year for the industry in general. That would be the forecast for the next several years," he said.

Analysts noted, said CNN, that the political backlash has not translated in any meaningful way into actual laws. A few State Governments have cancelled contracts with outsourcing firms but the vast majority of protectionist measures proposed in State and Federal legislatures have died.