US President-elect Barack Obama is a solid supporter of the growing Indo-US strategic partnership and backs the landmark bilateral nuclear deal, but has strong views about outsourcing of US jobs overseas, a cause of concern for Indian businesses. He felt that it was ‘only natural’ that the world’s oldest and largest constitutional democracies should enjoy ‘strong relations’. “America and India share many common goals and interests and the US is New Delhi’s largest trading and investment partner,”
However, one factor that is creating unease among Indians is Obama’s strong anti-outsourcing stance, which came to fore repeatedly during the campaign trail.Unlike John McCain, he is for stopping to give tax breaks to companies that ship jobs overseas, and he said he will start giving the tax concessions to companies that create good jobs in America. This was one of the key issues on which the Indian- American supporters of his rival John McCain were focusing on to argue that an Obama presidency will be a bad news for India’s growing BPO sector.
However, some experts have noted that protectionist measures will be difficult to implement in a globalised world and felt that the fears were overblown. Not only that, due to outsourcing of jobs to India, the American companies are benefiting more than that of Indian people. The American Inc’s are getting their jobs done in more cheaper and there by their product will be less priced in America. If Obama will go for stringent measures against outsourcing of US companies, will create a situation of withdrawal of investments largely by companies in America and will move to countries like India. I strongly believe that this will help to strengthen the Indian industries. We should remember what happened to China when the US invoked all kinds of embargos on trade and capital restrictions. China was forced to create its own infrastructure to develop the domestic potential and which led now to placed that country into number one position among world countries regarding trade and other areas.
Today, India is a country that no longer heavily depends on outsourcing. The financial ties run much deeper. Obama's ability (or inability) to tackle his country's financial woes will play the biggest part of India's near term growth,"
However, one factor that is creating unease among Indians is Obama’s strong anti-outsourcing stance, which came to fore repeatedly during the campaign trail.Unlike John McCain, he is for stopping to give tax breaks to companies that ship jobs overseas, and he said he will start giving the tax concessions to companies that create good jobs in America. This was one of the key issues on which the Indian- American supporters of his rival John McCain were focusing on to argue that an Obama presidency will be a bad news for India’s growing BPO sector.
However, some experts have noted that protectionist measures will be difficult to implement in a globalised world and felt that the fears were overblown. Not only that, due to outsourcing of jobs to India, the American companies are benefiting more than that of Indian people. The American Inc’s are getting their jobs done in more cheaper and there by their product will be less priced in America. If Obama will go for stringent measures against outsourcing of US companies, will create a situation of withdrawal of investments largely by companies in America and will move to countries like India. I strongly believe that this will help to strengthen the Indian industries. We should remember what happened to China when the US invoked all kinds of embargos on trade and capital restrictions. China was forced to create its own infrastructure to develop the domestic potential and which led now to placed that country into number one position among world countries regarding trade and other areas.
Today, India is a country that no longer heavily depends on outsourcing. The financial ties run much deeper. Obama's ability (or inability) to tackle his country's financial woes will play the biggest part of India's near term growth,"
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