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| << September20, 2004 - [India Thinkers Net]Cost-effective storage system, key to e-governance |
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"Viren" <vlobo_1@hotmail.com> Quite a strange twist given to the loss of jobs overseas . Anyway ? What has not been said in the editorial The price for the breakfast , - support for Bush plan for Afghanistan and Iraq and any plans Iran ? - Further opening up of India' s beleagured agriculture sector - plans as to how to exploit the opening up of Insurance , Telecommunication , airways . - Joint Indo US military exercises exposing more of India's complex terrain ? Viren TODAY'S EDITORIAL Business Breakfast [ SATURDAY, SEPTEMBER 18, 2004 12:00:16 AM ] What Manmohan should tell George over waffles and coffee On September 21, when Manmohan Singh sits down to breakfast with George Bush, the bosses of the world's largest democracies should decide that trade and investment are the best ways to take relations forward. The two economies have much to gain from each other - India's low costs, technical and scientific talent and English language proficiency make it attractive as a base from which to outsource many operations. Exports of these so-called IT-enabled services (ITES) crossed $3 billion last year, surging nearly 60 per cent over the previous period. Though no US politician wants to concede this before November's presidential elections, exporting tasks is a huge bonus for the American economy. If that option hadn't existed, many companies would have failed to cut costs and would have been forced to shut shop, locking millions of employees out of jobs. Outsourcing helped stave off that nightmare: US unemployment, which crossed 5 per cent in summer, fell marginally last month. The end of the election process and a return to growth will help reduce American paranoia over outsourcing to India. America is willing to relax curbs on the export to India of technologies that can be used for peaceful applications and to develop nuclear missiles. These include powerful computers, electronics, rocket engines and so on. Today, this makes little difference to India's scientific or defence establishment: Technology has progressed since the late 1970s when these curbs were imposed, India has opened up to overseas investment which brings technology in its wake and the technology gap has narrowed in many areas. Nevertheless, the gesture is symbolic of America's belated recognition of the stability of India's democratic institutions. These institutions haven't done too badly: A recent state department report on religious freedoms around the world applauds the election of Manmohan Singh's UPA regime for moving India in a more secular direction. Singh and Bush should start breakfast off on that happy note, agree to boost trade, investment and commerce - the best building blocks for a relationship. And then over coffee, Singh might wonder why America dithers over supporting India's bid for permanent membership of the United Nations Security Council. He should tell the prez why India's membership of this body will strengthen the UN and boost global security. It could also lead to a more open foreign investment regime for overseas companies in India. The penny might drop. The prez might get it, at last. |
| << September20, 2004 - [India Thinkers Net]Cost-effective storage system, key to e-governance |
September20, 2004 - [India Thinkers Net] News Updates >> |
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