The Hindu Business Line : US Govt not against outsourcing

Giving a thumbs-up for the cause of outsourcing, the US President, Mr George W. Bush, today said that the US Government was against taking any protectionist measures against outsourcing to countries like India due to concerns of job loss.

He was interacting with a young group of entrepreneurs at the Indian School of Business.

Mr Bush statement was in response to a query on what the Government's response should be in dealing with such issues. "I have taken a position. The US will reject protectionism. We won't fear competition. We welcome it." His comment on outsourcing received enthusiastic response.

It may be recalled that outsourcing had become a major election issue when Mr Bush was running for the second term. The issue assumed importance as it also coincided with a slight downturn in the US economy, causing job losses.

While stating that his Government would provide an environment for young students seeking to pursue higher studies, Mr Bush said that people lose jobs due to globalisation and "losing jobs is painful. But the fundamental question is how the Government tackles this.

This is because one should not forget globalisation has also opened up jobs."

The US President also suggested that Governments should push economic growth through low taxes, less regulation, fewer lawsuits, and wiser energy policies. "As for the US, we reject protectionism and will not pull back from competition."

Responding to queries from entrepreneurs, Mr Bush said that India could be a major economic power and US business was looking at the 300-million Indian middle class as a potential market.

Mr Bush also talked about to moves to make US Universities and colleges more accessible to Indian students.

The US Secretary of State, Ms Condoleezza Rice, the US Ambassador to India, Mr David C. Mulford, and other top officials accompanied the US President to the ISB.

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