Friday, January 29, 2010

US President's protectionist measures

US President Barack Hussain Obama’s announcement of tax breaks for those US companies outsourcing jobs to India and other South Asian country’s at the time the worldwide economic downturn has just started giving indications of recovery is unfortunate and self-defeating. Though it is his political step to strengthen his own domestic base after completing a year in office, it is to annoy temporarily his close partner India in South Asia. Indian software industries may be affected momentarily by his announcement of tax breaks but it has acquired now enough inherent strength to face any eventually boldly and would keep their momentum going. It is now no longer secret that India is not only the largest democracy but also the emerging global economy of the world. It is also natural that US is wary of fast economic growth of India and sees in it a potential challenger. President Obama is also apprehensive of India leaving the US behind in economic growth on the basis of robust growth of IT industries. The matter of the fact is that the Indian IT giant like Wipro has established its branches in US and it is giving jobs to a considerable number of US citizens. Obama must understand that India is the second most populous country of the world so there is no dearth of talented population in the country. On the basis of the talent of software personnel, India is going stronger and stronger and no country has the capicity to put hurdles in its way of forward economic journey. India’s talents can not be barred from progressing by fencing. It is not only India which is benefited by the US companies which outsource jobs but the US is also benefited. Obama’s lashing out at outsourcing of the US companies, sensing it is strengthening India economically will also have adverse impact on the bilateral relations. It is also no logic of the US President that if he ends tax break to US companies outsourcing jobs,the India’s economic stride would come to a halt. It is nothing but his misplaced thinking. No power on the earth will now be able to halt India and China rapid economic growth. Obama should also understand that atleast India in South Asia is not dependent of the US in any way and the proof of which India has already shown the world by facing sanctions against it after the nuclear explosion. India overcame them boldly and continued to progress as usual. By ending tax breaks to the US companies outsourcing jobs to India, President Obama has only shown his jealousy.

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