![]() Financial Daily from THE HINDU group of publications Sunday, Jan 30, 2005 |
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Industry & Economy
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Outsourcing `US benefits more from outsourcing' Our Bureau
Hyderabad , Jan. 29 AFTER the initial brouhaha over outsourcing jobs to India, the US witnessed an educated discussion on the controversial demand to ban outsourcing. Mr David C. Mulford, the US Ambassador to India, said it was soon realised that it was the US that benefited from outsourcing. For every dollar, the US got more than one dollar. "We have a service balance," he said. Addressing a press conference here, Mr Mulford said the initial mood against outsourcing was changed. Even Mr Kerry, the Democratic Presidential candidate, back-pedalled on the issue. "It (the issue of bringing in legislation) is no longer a threatening issue," he said. It, however, would be an issue in select areas. Mr Mulford said an open sky policy between the two countries was going to happen. The Ambassador said his country was studying a United Nations report on the issue of restructuring the Security Council. Replying to a question whether US supported move to grant permanent membership to India on the Council, Mr Mulford said the US would talk to others on restructuring. "We haven't made a policy decision on the issue," he added. The US also awaited UN Secretary-General's report on this issue. Stating that relationships with India were at an all-time high, he specifically cited the economic dimension in the bilateral relationships in the areas of trade, foreign direct investment and institutional investment. Mr Mulford said Hyderabad occupied an importance place with regard to FDI from the US. "It attracted investments in different fields," he said. With regard to the issue of visas, he said the rejection rate was not very high. On the Kashmir issue, Mr Mulford said the US had been supportive from both sides on the peace process. He, however, clarified that the US would not be "a manager or a referee" in this regard.
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