India's outsourcing chiefs crossed their fingers that Barack Obama would take a less hawkish stance on the industry during his second term, as they cheered his re-election as a possible boost to the U.S. economy.

Obama sharpened his rhetoric against industries that move jobs out of America during his re-election campaign, and his administration has been criticised by outsourcing industry bodies in India for tightening visa rules.

"Not the best news for India or the IT outsourcing industry," Phaneesh Murthy, chief executive officer of iGate Corp, said in response to Obama's victory.