A top Obama administration official has stated that the view that jobs from America are being outsourced to India is extremely embellished, he added that Indian and United States trade and economic relationship is not really depend against anyone, rather it is a two-way process.
The Under Secretary of State for Economic, Energy and Agricultural Affairs, Robert D. Hormats said in an interview as Bob Schieffer, anchor of the CBC News Face the Nation asked him a question regarding with his general reaction about India, and he answered that he thinks that is extremely embellished.
India is the location where American jobs are clearly outsourced, it is according to a lot of Americans, they all know about the telephones and all of it. People see and watch the TV show Outsourced, however, what they don’t commonly realize is the fact that a great arrangement of trade carries out on the export side. Over the last 12 months, India has raised its imports from the United States by 17 percent.
Hormats said that some of the Indian investment in the United States is starting to uplift, an enormous and major number of Indian firms are now investing in the state that generates an extensive number of jobs in the region. India’s development model is much more equal than the development models in many other regions.
He added that India has more stabilized model, and India is not a region whose growth model is according on export-led development, just the same with several countries besides to the east of India which is said to be very unique. From a overall point of view, the trade is not way of escape of balance within imports and exports. He said that it is not a tremendous exporter of manufactured goods to the United States that oppose with manufactured goods in the region.
Hormats discussed that when they look at what they export and they observe at the relative equity within exports and imports. It does not generate the same kinds of issues that people feature to some other regions or increase the similar types of problems that people attribute to other regions. There is a lot of alliances within Indian and American firms, India work very firmly with American firms, and they call economical innovation or innovation where they generate a new kind of services in a lower cost.
REFERENCES:
http://profit.ndtv.com/news/market/article-outsource-of-american-jobs-to-india-exaggerated-us-1402
http://www.daijiworld.com/news/news_disp.asp?n_id=95655&n_tit=%27Notion+of+US+Jobs+Being+Outsourced+to+India+is+Exaggerated%27+
http://news.oneindia.in/2011/02/18/notionof-us-jobs-being-outsourced-to-india-isexaggerated-aid0126.html
http://www.bpowatchindia.com/bpo_news/usexports/february-21-2011/notion_of_us_jobs_outsourced_to_india_exaggerated.html
http://ibnlive.in.com/generalnewsfeed/news/notion-of-us-jobs-being-outsourced-to-india-is-exaggerated/582131.html
