Industry & Economy
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Foreign Trade
India must buy US products to make up for outsourcing job loss: Blackwill
Our Bureau
New Delhi
,
Jan. 10
INDIA needs to buy more US products and services to compensate for the US jobs lost due to outsourcing, according to the former US ambassador to India, Mr Robert Blackwill.
Mr Blackwill, in his new role as the President of lobbying firm Barbour Griffith & Rogers, said, "This (outsourcing) is going to be a major problem for both the countries, but they can still manage." As a part-solution to the issue, he said, "India needs to buy more US products and services to compensate for the US jobs lost due to outsourcing."
He added that India needs to inspire confidence to attract US investment, particularly in the infrastructure sector. "US investments go where they feel safe. India will have to give more incentives to US companies for them to come and invest in India," Mr Blackwill said at a CII interactive session here. The new Cabinet of the Bush administration eyes India as an important strategic partner , he said.
Pointing out that disputes need to be settled for the two countries' economic relations to prosper, he said, "Problems in the power sector, such as the Dabhol project and subsidies issues such as in fertilisers, need to be addressed."
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