Financial Daily from THE HINDU group of publications
Thursday, Apr 08, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Info-Tech - Outsourcing


US Congressman bats for outsourcing

Our Bureau

New Delhi , April 7

THE Indian outsourcing industry on Wednesday got a reason to cheer with the influential Republican Congressman and Chairman of the House Rules Committee, Mr David Dreier, supporting off-shoring as "an important and positive part" of the overall US trade agenda.

Mr Dreier, who had introduced a Bill on increasing H1-B visas, said that outsourcing had become a political issue in the US, which is to elect its new President in November this year.

"It has become a political issue. Fortunately, a majority of the policymakers in the US are very clear that outsourcing is good for our economy. I feel that the prospect of creating two million new jobs this year coupled with economic growth will reduce the heat over outsourcing," Mr Dreier said at a reception for a visiting US Congress delegation organised by the National Association of Software and Service Companies (Nasscom).

He said it was important for the US to shape global economy by promoting free trade. "If we do not shape it, we will be shaped by it. We realise that in a global economy, everyone should do what he is best at. If any country tries to maintain its economic hegemony, it is doomed to failure," Mr Dreier said.

Terming trade as "the currency of friendship", Mr Dreier, however, said India, on its part, would also need to pursue higher degree of economic liberalisation, eliminate barriers, and allow and encourage greater Foreign Direct Investment.

"If you want to benefit consumers of India, if you want to make sure that they have opportunity and access to best quality products at lowest price, then greater economic liberalisation, elimination of barriers, allowing an encouraging greater FDI...these things are essential," he said.

More Stories on : Outsourcing | Politics

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
US Congressman bats for outsourcing


Govt urged to bridge tech divide
Touchtel lowers tariffs
Bharti raises $100 m through FCCBs
Touchtel cuts ISD, STD rates
`Stock split/bonus issue will not hit Infosys valuation'
Ministry examining issue raised by Nasscom on tax holiday
US visa curbs may hit SMEs hard
ICICI Info bags TTK project
`Seat them facing north or east' — BPO firms at wits' end over attrition
Ready Test Go to double headcount
IBM to buy BPO firm Daksh
Thinksoft Global in pact with NSE.IT
Comparex to market Finacle in Africa
C-Sam develops Mobile Wallet
`Rising rupee could cause flight of deals'



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line