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India sees boom in BPO post US polls
April 06, 2004 17:45 IST
Assuming that the growing sentiment against outsourcing in the United States has a lot do with electoral politics, India expects the American society to be more objective in assessing the impact of outsourcing once the presidential elections are over, Foreign Secretary Shashank said on Tuesday.
"We hope that with the immediate preoccupation with election processes (in the US) there is a natural tendency to see immediate results...we will be able to overcome the perception (of job loss due to outsourcing)," Shashank said.
Both India and the US would see to it that there was larger growth of employment once election process was over in the two countries, he said at a seminar on 'Indo-US Economic Cooperation', organised by Indo-American Chamber of Commerce, in New Delhi.
He said there was double the number of job growth in the US due to BPO than the number of jobs lost, citing a study.
India would take into account the issue of free trade agreement with the US as suggested by the domestic industry, he said.
Over 100 US corporations had set up their R&D hub in India while foreign investment outflows from India to the US has been of the level of $1 billion with US becoming the leading recipient of Indian investments.
He said both governments were in dialogue about how to best utilise the potentials in areas like services and knowledge-intensive industry and tap the trade and investment opportunities in tele-medicine, biotech, healthcare, space applications, pharmaceuticals and pension market.
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