Barak Obama is likely to take some drastic policy reversals of Bush administration during his first few months, which can cast death spells for quite a few Indian and Chinese industries which are dependent on US for most part of their business. In China, the toy industry, apparels industry, electronic gadgets at the lower end, leather products etc. may be hit. In India, software support industry, gold and diamond jewelry industry, BPO, KPO, garments etc. can be in the hit list. We need to just wait till February / March 2009 to know the fate of these industries.