India discussed with the Obama administration the difficulties faced by its companies and American MNCs [Multinational Corporations] in getting a U.S. visa for Indian professionals and asked to make sure the issue does not hinder the fast growing trade and commerce ties between the two countries.
India's Union Minister for Commerce and Industry Anand Sharma reiterated this on his recent trip to Capitol Hill and New York. He said he raised the visa issue with senior officials in the Obama administration, in particular those being given to Indian professionals who are in very high demand in the United States.
"I have raised the issue of visas, particularly for the professionals, keeping in mind the fact that a large number of Indian entities are engaged here generating employment and creating wealth," Sharma said.
He said the Americans' paranoia about Indians taking away their jobs, especially in the IT and services sectors, was a myth. "There is an incorrect perception in the United States that Indians are taking away the jobs of Americans, which is driven more by the fast-paced growth of India in the IT and services sectors," Sharma said.
Citing three recent reports, including one by PricewaterhouseCoopers and International Business Forum, Sharma said, "Contrary to popular perception, Indian BPO [Business Process Outsourcing] companies have created income worth $106 billion inside the United States in the last three years ending 2009, and generated 300,000 jobs, of which 250,000 were filled by Americans. These are jobs for Americans created in America but by Indian companies. It is a myth that jobs are being taken away by Indians," Sharma said.
On the issue of India swamping the United States with its massive services sector, the minister pointed out that though India was an exporter of services, it is a net importer of services, and there is a mutual exchange of services between the two countries.
"It is more or less balanced and if there is a tilt, it is in the favor of the United States," Sharma said, adding, "we have more nationals from here and we are welcoming them, as we do not want any restrictions as strategic partners."
The minister called on the American corporate leaders to create greater sensitivity and awareness among "ill-informed politicians," who seek to create barriers in trade between the two countries.
"I have been urging the U.S. corporate leaders that since you are aware of these facts go in a delegation and sit with Congress-people," Sharma said, noting that accurate information would cause politicians to stop pushing forth unhelpful amendments.
India, with its promise of higher return on investments, offers boundless opportunities for corporate America to invest in the country, particularly in manufacturing and infrastructure, Sharma said.
In his address to the Indian and American industry members, jointly organized by the U.S.-India Business Council (USIBC), Sharma called upon the private sectors of both countries to establish partnerships and commence new ventures "that would demonstrate the mutually beneficial nature of the U.S.-India commercial relationship."
"We now seek collaboration focused on investment in India's manufacturing sector and the build-out of the country's infrastructure, shaping the country into a world-class manufacturing hub," Sharma said.
Underscoring the many opportunities for mutual and inclusive growth, U.S.-India Business Council President Ron Somers said the next phase of the trade and investment relationship will feature the innovations of the small and medium enterprise sectors in India and the United States, where fresh ideas and technologies would spur economic growth in both countries.
"These companies will become more integrated into the global supply chain in the years to come and infuse new capital and energy into the U.S.-India partnership," he said. "Further opening of India's retail sector will modernize the country's farm-to-market supply chain. Such productivity will become India's second Green Revolution," he said.
Sharma also asked the Obama administration to relax its export control restrictions as the relationship between the two largest democracies of the world have reached a new height.
"There have been concerns in India (about export control), which we have conveyed to the United States. The need is to enhance the engagement and trade between the two countries – but it is well below its potential. The fact that India is the second fastest growing economy, expanding further at a fast pace, our countries being strategic partners need to do more to enhance trade," he said.
