Protectionism, an issue of concern, needs to be resisted: USIBC
Lalit K Jha/ PTI / Washington Jun 08, 2009, 10:53 IST
Observing that voices of protectionism emanating from the political quarters, is an issue of concern for American businesses, an Indo-US chamber has said it believes that such trends need to be resisted.
"Protectionism is an issue of concern for us. Such an easy political catch word; we need to resist this," said Ron Somers, President, US India Business Council (USIBC), and argued that outsourcing, global sourcing is enabling US companies remain competitive in the world market.
"For American companies to remain globally competitive, our companies are looking to do business all around the world, accessing best values, best resources and best talents. It is only then that we can create jobs in the US," he said.
When specifically asked about H-1B visa and US President Barack Obama announcing his intention of stopping jobs being outsourced to Bangalore, India, Somers said the Congressional attack on outsourcing, specifically on India, is unfortunate.
"The recent legislations introduced in the United States Senate would severely restrict the flow of high skilled immigrants to the US. We believe this is harmful. It hurts the American competitiveness," he said, adding that the US Chamber is working closely with the elected representatives up on the Hill to resist this campaign rhetoric.
The Editor,
The Business Standard
Dear Sir,
Protectionism is bad. It dicourages free competition and will hurt any economy in the long run. Very recently G20 summit took a pledge to discourgae protectionism and pursue Doha Development Round (DDR) with seriousness. However, post G20 summit certain member counries including US resorted to protectionism measures to safeguard their domestic interests. If this trend coninues, the DDR that is likely to take place in Jan/Feb 2010 many not serve any purpose. Given the economic slow down it is doubtful whether the scheduled meeting will be held. WTO on its own should pursue / persuade member countries to come forward and shun protectionism measures for the welfare of entire universe.
Thanking you,
knvs subrahmanyam
Hyderabad
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