OBAMA-OUTSOURCING 2LST

The Indian IT sector, which gets 60 per cent of its
export revenue from the US, has come out strongly against US
moves to ban outsourcing.
New Delhi's concerns on outsourcing and the steep hike
in H-1B and L1 visa fees is expected to be raised during
Obama's maiden visit to India in November.
This is the second time in a week that Obama has
spoken about outsourcing.
Earlier on Wednesday, speaking in Cleveland, Ohio,
Obama made it clear that he intends to push this course to
propel companies to invest more in the US, thereby opening
fresh avenues for jobs.
"One of the keys to job creation is to encourage
companies to invest more in the United States. But for years,
our tax code has actually given billions of dollars in tax
breaks that encourage companies to create jobs and profits in
other countries," Obama said.
The president said he was determined to change that.
"I want to change that. Instead of tax loopholes that
incentivise investment in overseas jobs, I'm proposing a more
generous, permanent extension of the tax credit that goes to
companies for all the research and innovation they do right
here in America," he said, with Ohio Governor Ted Strickland
standing by his side.
With election due in November for 37 of the 100 seats
in the United States Senate, and the opinion polls painting a
grim picture for the Democrats, Obama had sought to project
the tax issue as a key policy difference between his party and
the Republicans.
"I think if we're going to give tax breaks to
companies, they should go to companies that create jobs in
America -- not those that create jobs overseas. That's one
difference between the Republican vision and the Democratic
vision. And that's what this election is all about," Obama
said.
Running behind in opinion polls, Strickland of
Democratic party, who till now was going out of his way to woo
Indian companies, last week passed an executive order that
banned outsourcing, arguing that this undermines economic
development and has unacceptable business consequences. PTI
NSA
RBT


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