Obama visit: Beginning of an era of bilateral gains
By Binu Paul, SiliconIndia   |   Thursday, 11 November 2010, 14:14 IST   |    1 Comments
Printer Print Email Email
Bangalore: Despite his party's defeat in the recent U.S. midterm elections and his decreasing popularity back home, Barack Obama showed a relaxed mood with some Indian folk dancing with the schoolchildren during his historic visit to India. Many believe that Obama's India visit has created a win-win situation for both countries. Apart from the geopolitical significance, the President's visit was more to do with the potential economic gains for both countries. From the time the Indian Prime Minister, Manmohan Singh broke with protocol to personally welcome him to the Indian capital, it was evident that Obama will impress the masses not just with his oratory skills, but with rich content. While George W Bush's visit was a single signature agenda - the civil nuclear deal, Obama's visit has marked inking a number of deals that are rich in bilateral benefits. Politically speaking, India got all it wanted from the President. Obama surprised everyone by endorsing India's UNSC bid, although the nation will have to wait further before secure it. As India wished, he sent a strong message to Pakistan asking them to dismantle the terrorist safe havens and bring the perpetrators of 26/11 to justice. The visit also marked removal of Defence Research and Development Organisation (DRDO), Indian Space Research (ISRO) and Bharat Dynamics Limited (BDL) from the sanctioned list. Entities on the list are usually required to receive a special export waiver for U.S. trade goods that generally do not require such an exemption. Picking Mumbai, India's financial capital, as his first stop for his visit was a clear indication of the primary objective of his India tour. He held significant meetings with groups of Indian and American business leaders. The end result was a whooping $14.9 billion trade deals and potentially creating more than 50,000 jobs. Many deals were signed in defense, aeronautics, electronics, transportation and automobile sectors. Many export deals and technological pacts were signed during this visit. America's fragile economic recovery and increasing unemployment rate prompted Obama to strike more economic deals with India which will in turn create more jobs in the U.S. and so he did not overemphasize on the evils of outsourcing. As a matter of fact, India also took a soft stand on the visa fees and protectionism eying various other economic and political decisions from the President. The Financial Express reported that India's apex software industry body Nasscom sees U.S. President Barack Obama's visit a boost to IT sector by allaying fears on the outsourcing issue. It quoted Som Mittal, President of Nasscom as saying "the visit has helped break the stereotypes about India stealing jobs or being a call centre country." Obama was sensible enough to appreciate the potential change in India's economic power and prestige as he acknowledged India as "not just a rising power" but one that "has already risen." It is high time that India should mature herself in self-confidence and seek a balanced and beneficial relationship with the U.S.

siliconindia