INDIA J URNAL
September 17, 2010
Ohio Outsourcing Ban Won’t Impact Impact on Indian IT Sector
Indo-US Business Ties: Roemer Obama Against Tax Breaks To
NEW DELHI - The US Sept 10 Firms Shipping Jobs Overseas tween the countries was “indis-
sought to downplay the ban on WASHINGTON, D.C. - President
outsourcing clamped by the gov- “I would refer you to statements Barack Obama has made it clear
ernment of its Ohio state, saying by Infosys and other Indian com- that his administration is against
similar actions in the past have not panies which recently had said tax breaks to the US companies
affected Indo-US ties which have about Ohio action ...that they had shipping jobs abroad and said in-
grown to a far greater level. very little, if any, impact on US- centives will be given to those
US ambassador to India Timothy Indian business,” he told report- firms which create employment
Roemer said Ohio banning ers here when asked to comment in the country, a move that may
outsourcing of IT related work on the ban. have ramifications for the Indian
would not have any bearing on The ambassador said Indo-US re- IT sector.
Indo-US business ties and as- lations have reached to a new stage “Let’s stop giving tax breaks to
serted that the partnership be- which now includes counter terror- companies that are shipping jobs
ism, green partnership, apart from overseas. Let’s stop incentivizing
Ambani Brothers trade and commerce. “We are talk-
ing today about the indispensable
that and let’s give tax breaks to
companies that are investing
Lead The List Of partnership between the United right here in the United States of
Contd. on B11
Sour Deals This Year Timothy Roemer America,” Obama said in re- Barack Obama
Global Slowdown Not Yet Over, sponse to a question at a White
House news conference Sept 10.
The Indian IT sector, which gets 60
per cent of its export revenue from the
His remarks came close on the
India Must Stay Alert: Pranab heels of the Ohio state Governor
passing an executive order to ban
US, has come out strongly against US
moves to ban outsourcing.
New Delhi’s concerns on
KOLKATA - The global economic re-
covery is not yet over and India will outsourcing, a development that outsourcing and the steep hike in
have to remain alert, Finance Minis- has raised concerns in India which H-1B and L1 visa fees is expected to
ter Pranab Mukherjee said Sept 12. is often described as the world’s be raised during Obama’s maiden
Mukesh Ambani Anil Ambani “We will have to stay alert as In- back office. visit to India in November.
dia is not alienated from the global Obama said instead of tax breaks This is the second time in a week that
NEW DELHI -Placed among situation,” Mukherjee said at an event that encourage corporations to cre- Obama has spoken about outsourcing.
the wealthiest people globally, in the Hooghly district in West Ben- ate jobs overseas, he was for tax Obama admitted that economic
the Ambani brothers’ groups gal. Referring to the recent global fore- breaks for companies that create progress in the US, facing a two-year-
also have the dubious distinc- cast of the International Monetary jobs in the country. long recession, has been “painfully
tion of accounting for over 90 Fund (IMF), he said the evaluation “... we believe in tax breaks for slow” and “we are not there yet”.
per cent of the estimated $ made by the inter-governmental companies that create jobs right “For all the progress we’ve made,
27 billion merger and acqui- organisation was not so rosy. here in the United States of we’re not there yet. And that
sition deals that could not According to the IMF, the Euro- America. And so we’ve begun to means people are frustrated...,”
fructify so far this year, says pean recovery will be delayed and do that,” Obama said. Obama said.
a research report. the same is true for Canada and “We believe in investments that Obama, under fire over the issue of job
The biggest non-starter was North America, he said. will make America more competi- losses, said his proposals are meant to
Reliance Industries’ $ 14.5 bil- “Since we are not alienated, we tive in the global economy—in- accelerate job growth in short term and
lion all-cash bid for acquiring will have to stay alert,” he said. Pranab Mukherjee vestments in education and clean revive small businesses.
a majority stake in bankrupt Mukherjee earlier said that India that India’s GDP growth would be energy, in research and technol- “Because even though the economy
Contd. on B12 was the second largest growing in the region of 8.5 per cent to 8.75 ogy—and we’re making those in- is growing again, and we’ve added
economy after China, pointing out per cent in 2010. (PTI) vestments,” he said. Contd. on B12
INSIDE THIS SECTION
Safe Harbor Rules For
Foreign Firms Soon B3
Ashish Vaidya is CSULA’s New Provost
BY A.MATTHEWS Asked to explain the role of a Pro- ulty, and to continue CSULA’s
Poor Logistics Costs India vost, Vaidya succinctly described commitment to student success.
$65 Billion Annually B4 LOS ANGELES, CA – Dr. Ashish a Provost as the chief academic As to new ideas he was planning to
Vaidya was appointed new Provost officer of an institution. The bring to the table he said
Eyes on Taxes: Estimated Tax Pay- and Vice President of Academic Provost’s role is to work “CSULA’s vision of serving a di-
ment Percentages Changed B10 Affairs at California State Univer- collaboratively with internal and verse and multicultural student
sity, Los Angeles (CSULA) in Au- external constituencies to ad- body in one of the most dynamic
gust. Vaidya will take charge in vance the mission of the Univer- regions of the world resonates
DOLLAR / RUPEE his new position on October 1. He sity. As chief academic officer, the strongly with me. Our responsibil-
RUPEES U.S. is currently Dean of the Faculty Provost oversees all the academic ity is to ensure that we offer dis-
and Professor of Economics at Cal units within the University in- tinctive academic programs that
Rs. 46.16 ................... $1 cluding schools and colleges. are responsive to local, regional, and
State University Channel Islands.
MARKET WATCH In an interview with India Jour- To a question regarding his key global needs. I hope to work with
nal Vaidya said he was “thrilled contribution as Provost, Vaidya President Rosser, the faculty, the
GOLD NY TRADING
and excited” at the new appoint- said he hope d t o w o r k administration, and staff to help
$1275.70 ........... 1 ounce ment. “The opportunity to return collaboratively with the aca- our students achieve their educa-
SILVER NY TRADING and serve the institution where I demic leadership to strengthen tional goals.”
began my academic career was even CSULA’s academic programs, Being in an administrative position
$20.54 ............... 1 ounce to support the work of the fac-
more special.” Ashish Vaidya Contd. on B11
For All Your Residential/Commercial Mortgage Needs
CD MORTGAGE CORP.
6 Hughes, Suite 120, Irvine, CA 92618
CA Dept of Real Estate Brokers, Lic # 00999152 • (916) 227-0931 (888) 423-6678 • (949) 581-1939 Cell: (714) 612-1242 Warren Venkatesh
REAL ESTATE BONANZA RESIDENTIAL & COMMERCIAL
BRINGS YOUR DREAM COME TRUE
• 3 BD 2 Ba Homes in Anaheim, Fullerton, • Gas Station for sale with Property in Torrance Rashmi Shah
Chino Hills • 34 Units apartment for sale in BUENA PARK USA Certified and Licensed Interior Designer
• 4 BD 3 Ba homes in Chino, Corona,
Huntington Beach etc.
• 15-16 Custom Home Project in Yorba Linda
• Brand new Industrial Buildings in Northern California (714) 738-1345
• Oceanfront Condos in Long Beach,
and Southern California
• Several Gas Stations with property in Southern California (714) 309-4414
San Clemente under 700K with Property. -Call for FREE Estimates -
• 4 BD 3 Ba homes in La Palma, Cypress • Carwash for Sale in Whittier with warehouse SERVICES AVAILABLE
and Cerritos • 4.5 Acres of Commercial Land off 60 FREEWAY
• 10,000 sq.ft home in PERALTA HILLS SOLD BUSINESS EVALUATIONS, DUE DILIGENCE AND REAL ESTATE • Total Remodelling
MANAGEMENT SERVICES AVAILABLE. • Hotel/Motel Decorating Experts
• Bank Owned home for SALE in Fullerton Jigar Shah, MBA Rashmi Shah • Shopping Center for sale in Riverside and Orange Counties
and Yorba Linda Residential, Commercial & USA Certified and
“PROFESSIONAL PROPERTY AND BUSINESS • Custom Furniture/Drapes/Bedding
Business Properties Expert Licensed Interior Designer
• 4,300 Sq.ft BANK OWNED home in Fullerton MANAGEMENT OF ANY KIND AVAILABLE” • Custom Flooring/area rugs
Call Direct: 714-626-2023 SEVERAL COMMERCIAL CONSTRUCTION PROJECTS AVAILABLE • Full line of Landscaping including
Great Deal for a Home in Scripps Email: firstname.lastname@example.org Discovery Realty
Ranch area of San Diego www.jrshah.com Teamwork that works!
Pool,Spa, Gazebo, Barbecue etc.