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Obama Says Offshoring Fears Are Unwarranted

November 7th, 2010 11:44 admin Leave a comment Go to comments

alphadogg writes “The perception that Indian call centers and back office operations cost U.S. jobs is an old stereotype that ignores today’s reality that two-way trade between the U.S. and India is helping create jobs and raise the standard of living in both countries, U.S. President Barack Obama told a gathering of business executives in Mumbai on Saturday. President Obama’s remarks come after some moves in the U.S. that had Indian outsourcers worried that the U.S. may get protectionist in the wake of job losses in the country. The state of Ohio, for example, banned earlier this year the expenditure of public funds for offshore purposes. U.S. exports to India have quadrupled in recent years, and currently support tens of thousands of manufacturing jobs in the U.S., he said in a speech that was also streamed live. In addition, there are jobs supported by exports to India of agriculture products, travel and education services. President Obama, who is in India on a three-day visit, said that more than 20 deals worth about $10 billion were announced on the first day of his visit.”

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