Obama's plan not to hit Indian cos: HCL

"Sales have been impacted as (the) government has postponed its orders (for computer systems) in view of the elections. Things will get better as orders start coming from the new government," HCL Infosystems chairman and chief executive officer Ajai Chowdhry said on the sidelines of a CII Global industrial R&D conclave.

The uncertainty in economic conditions and the lack of finance also led to the decline in sales, he added.

"The economic uncertainty and unavailability of finances (have) affected sales as well. But by the end of this year, the situation will improve and sales would definitely pick up," he said but declined to give any figures.

Asked about US President Barack Obama's proposal on tax restructuring, Chowdhry said he does not expect the move to affect Indian companies.

"We do not see impact on Indian companies as it would primarily effect American firms. It's a tax differential that the American companies would have to see," Chowdhry said.

President Obama has proposed putting an end to tax incentives to US companies creating jobs outside the US in places like Bangalore. The incentives should go to those firms creating jobs in the US, in places like the Buffalo City, he said.

The move is aimed at using the savings thus generated to give tax cuts to companies that invest in research and development in the US.