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India Inc blasts Obama's outsourcing policy

By: chaxxx send a private message
Bangalore : India | 6 months ago  
Views: 369
  • Indian Outsourcing
    Indian Outsourcing
    Posted by: maidiya
    Who's the brains behind?
Indian Outsourcing

Indian industrialists have lashed out at president Obama’s move to clamp down on outsourcing by US companies.

The Federation of Indian Chambers of Commerce and Industry (FICCI) has described Obama’s decision to levy high taxes on outsourcing deals as crass protectionism, which would hit US companies and their shareholders.

FICCI chief Harsh Pati Singhania declared that the US move would hit its investments abroad and would harm the interests of American companies. He said that it was a fact that outsourcing benefited US companies and brought in profits to numberless small shareholders.

President Obama had said on May 4 that he would stop US companies form killing jobs in the US to create jobs abroad.

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Posted By maidiya maidiya | 6 months ago
Well Obama would do anything to safeguard his people! i think this is simple enough to understand.

maybe its time for Indian, Pakistani,Bangladeshi companies to step up and launch their own products, instead of basing their livelihood to American companies
Posted By Ross1776 Ross1776 | 6 months ago
Leave it to the other countries of the world to continue to believe that somehow the American people owe their citizens jobs and to support their own economic development. Sort of like the arrogance of Mexico. When the economy bottomed and some of the illegals were losing jobs, the Governor of Sonora went to the Mayor of Tucson, Arizona complaining that their economy was suffering due to the loss of jobs. Instead of going to their own government, they brought their tale of woe to the Mayor of Tucson. While countless Americans are out of work due to many of those Mexican construction workers who are day laborers and whose only qualifications are that they know which side of the hammer to use.

Last week I read a letter from a mother whose son was killed in December on a construction site. Apparently, the illegal immigrant worker failed to bolt a concrete wall correctly and 2,000 pounds of concrete fell on him, killing him at the job site. He left four kids that are now on Social Security and is now suing the company for millions, which will raise professional liability insurance than for many construction companies in that state.

We need to start taking care of our own country and citizens livelihoods, and stop enabling and allowing those countries also develop their own initiative and solve their own economic woes.
Posted By Ross1776 Ross1776 | 6 months ago
No offense, but this country's unemployment is now at the highest levels ever. And most of us have paid for college educations for some of those technical jobs that are now being outsourced to many countries - while those companies continue to misstate that there aren't enough Americans to fill them. There are, they just don't want to pay the taxes and costs here that would reduce those executive salaries to reasonable levels.
Posted By slydog slydog | 6 months ago
I have to agree with most the above comments. Most of the outsourcing
led to North American job loss and only sweetened the "bottom line"
for companies & shareholders. And, of course, we know what they did with all tht dough..they lost or misplaced it somehow! :-(
Reported by chaxxx
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