Bangalore: Bush or Kerry, the US would continue to be the biggest market for India's IT services industry and outsourcing to 'desi' companies would also grow in the next five years, chairman of NASSCOM (National Association of Software and Services Companies) Jaithirth Rao said today (Nov 3, 2004).

"In the next five years...20 quarters, we have a very good optimistic story," Rao, also chairman and managing director of IT and BPO services company Mphasis BFL, told in Bangalore.

Asserting that India's IT industry is not too concerned regarding either verdict - re-election of President George W Bush or victory of John Kerry, he said it's not the central concern.

"Ultimately, Indian IT industry is based on sound economics. Short-term political changes, one way or other, I don't think we are too concerned about."

Rao sought to stress that the US has had been a champion of free trade for many decades.

"At the end of the day, irrespective of elections, by and large if you go back and look at the last 70 years, the US has been a proponent of free trade and the US has grown rich because they believed in free trade", he said.

Asked if it would make no difference to the Indian IT industry whether it's Bush or Kerry, Rao reiterated that it's not central.

"At the periphery, it may make a difference to one person...one company...one contract... some rhetoric here and some rhetoric there. But two things are clear: Indian IT industry is based on sound economics and we generate extremely good value for money...good quality, and America is basically committed to free trade," he said.

Rao said neither Bush nor Kerry "got something specific on outsourcing to India" during campaigning.

"Kerry campaign has focused a lot more on outsourcing. No doubt...but more as domestic economic concern...tax rates...tax incentives...rather than a trade issue."

The NASSCOM chairman emphasised that the issue -- whether it's Bush or Kerry -- is not a central concern and not central to trade issue, adding, concern is more in the matter of ensuring customer service, quality and security.