Financial Daily from THE HINDU group of publications
Tuesday, Jan 06, 2004
Industry & Economy
Info-Tech - Outsourcing
Outsourcing fears unfounded, says US Congressman
Kolkata , Jan. 5
WHILE admitting that the US visa procedures perforce have become somewhat stringent, Mr Gregory Meeks, US Congressman, on a visit here, told presspersons on Monday that emerging fears in developing countries over a clampdown on such outsourcing contracts emanating from the US was totally unfounded.
He said such BPO jobs benefited both countries, and must be seen in the right perspective of growing relations between the two countries.
Reiterating that friendship between the two largest democracies in the world had a historical content, he said the present economic ties augured well for greater business harmony.
Besides being a Member of the US House of Representatives, Mr Meeks is a Ranking House Member on Caucus on India and Indo-American relations. Accompanying him is Mr Malcolm Smith, Ranking House Member in Finance, Banking and Education, and also a New York State Senator.
Asked if the rising security concerns in the US, and the resultant measures would act as a trade deterrent, as feared by exporters in the developing countries, Mr Meeks replied in the negative.
He said, "We are using technology to wipe out the bad from the good, and these measures need not be viewed as trade barriers". What is being feared as trade barriers is only in the short-term, he clarified.
Earlier, Ms Alessandra Faraone Lanza, District Governor, and Corporate and Tax Consultant, from Milan, Italy, made a detailed presentation on the state of the Italian economy, whose GDP growth was now stagnant at 0.4 per cent.
She said a GDP growth of 1.7 per cent was expected this fiscal. Production levels have been showing a negative trend because of contraction of demand.
According to Mr Anonio Silvio, Deputy Consul General, Consulate General for Italy, Kolkata, business teams from the Lombardi and Tuscany regions of Italy are expected to visit the State soon to discuss business opportunities.
He said some of the MoUs signed between Italian business teams, which visited the State sometime ago, are expected to become operational agreements soon.
Welcoming the US, Italian delegation members at the interactive session organised by the Confederation of Indian Industry, Eastern Region, here on Monday, Mr Sanjay Budhia, regional chairman of CII, said the team from Milan, Italy, essentially on a goodwill mission to India, also included representatives of business sectors such as shipping, chemicals, food and textiles.
The team members also had a meeting with the State Chief Minister, Mr Buddhadev Bhattacharjee.
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