No protectionist measures on outsourcing: Bush

US President George W Bush today ruled out protectionist measures to address domestic concerns on outsourcing, and favoured easy access for Indian students to American universities and schools.

"I have taken a position, the US will reject protectionism. We won't fear competition. We welcome competition," he said while interacting with young entrepreneurs at the Indian School of Business.

Noting that people lose jobs as a result of globalisation, Bush said:  "Losing a job is painful, but the fundamental question is how does the government react."

He said one way was to resort to protectionist laws and the other was to educate people so that they found jobs in the 21st century.

"Let us make sure that pro-growth economic policies are in place - it means low taxes, less regulations, fewer lawsuits and wise energy policies," Bush said.