Obama win: India Inc happy - flags IT

"I think there will be greater implications as he (Obama) focusses on issues like unemployment. I just hope he remains true to free trade and all the other things that he talks about so well," he said.

Biocon Chairperson Kiran Mazumdar Shaw said she hopes that the "outsourcing rhetoric will die (down)", and Obama's re-election will be good for the Indian pharmaceutical sector.

"It will be positive for affordable healthcare in generic drugs (segment). In the US, over 75 per cent medicines are generic. So Indian pharmaceutical sector is going to gain in the US. It will continue to augur for the Indian pharma sector," she said.

Shaw said the win gives Obama another opportunity to push the reforms and decisions which he could not do in his first term.

Offering a different perspective Bajaj Auto Chairman Rahul Bajaj said: "Mitt Romney would have been better for India as they are little bit open. Obama is more protectionist and we hope that it will change."

Jindal Steel and Power Ltd Chairman Naveen Jindal said Obama has a lot of rebuilding to do to drive the economy as well as handling the situation after the superstorm Sandy.

On outsourcing, he said: "These issues will take time to settle down. They have reason to oppose against outsourcing and that will take time to rectify. I am optimistic about India-US relationship. Both the countries have respect for each other."

Infosys Executive Co-Chairman S Gopalakrishnan expressed the hope

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