U.S. feels insecure with Indian IT stride

By siliconindia   |   Thursday, 10 March 2005, 20:30 IST
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WASHINGTON:For the first time perhaps, U.S. executives have expressed their insecurity with IndiaÂ’s growing competitiveness in IT, Science and Technology and asked the Government to put more money into education programs and eliminate regulations that slow broadband adoption if the U.S. has to stay competitive. "Our competitive countries -- Brazil, India, China, Israel -- their research and development has grown dramatically," said Bob Greifeld, chief executive officer of Nasdaq Stock Market Inc. "Unless we take steps now to increase our national commitment to research and development, we will not win the global competitive challenge in the decades to come." The members urged the government to hike education funds without which it faces stiff competition from eastern Economies. Cisco systems President and CEO John Chambers said the US education system falls behind other industrialized nations between the fourth and eighth grades. Chambers also added that "as global competitors close on us," there is no alternative but to concentrate on core areas in order to keep competition at bay. Greifeld also urged the government to support policies that encourage the rollout of broadband across the U.S., saying broadband adoption is critical for new technologies to flourish. "Our information superhighway is really a bumpy, two-lane country road," Greifeld said. "We need the superhighway, because it is the lifeblood of new industries that will develop." The U.S. has to act immediately to maintain an entrepreneurial culture that can envy the world, Greifeld said. "This entrepreneurial, innovative culture is not a natural birthright," he said. "It is not our birthright that will continue to lead the global economy. It is something we've excelled at, but it is something we must work hard to ensure it continues."