If most of the jobs in the US and UK are outsourced to india, does it mean pple der will run short of jobs...?

No it is not correct. In fact UK and US companies would make more profits. Extra man power is being used to produce sophisticated high tech goods which are sold back to the same countries where Uk & US have outsourced. Like we ship one ship load of garments and leather goods to US and US sales us against it a boeing commercial plane to say Kingfisher air lines with a greater profit. Hence the worker in US makes more money.

not likely due to India's large population
I agree with Benny's answer, but in the long term and from the overall economy point of view. People will be working in new and better jobs.

But, in the short term, some people will definitely lose their jobs.

Some of them will get another one, perhaps with a lower salary.
Others will not get anything, because the new jobs to be created in the USA or UK will demand knowledge that they do not have.

That is why is so important to continue learning new skills to not become obsolete.

That has been happening since centuries. It is Darwin's theory of survival of the most adapted, in an economic scale. Countries that did not allow that natural selection stop the progress...
Nope, they have a lot of new things that keep coming up
These nations find short of people in expert fields. Then outsource for exapmle they are outsorcing water industry people, internet, IT people. Internet makes it eazy to work from anywhere in the world if it is documentation and IT work.
http://www.website.ws/therichkid...
Its just the contrary.US and UK are doubly benefited by outsourcing the jobs.Now they can concentrate more on core areas of business.Its a big bonus for US and UK with outsourcing in cheaper eastern countries where thecost of living is low!!!