What Obama's Win Means To India?
Bangalore: Barack Obama is set for another four-year term at the White House after he won the Presidential elections. While not just the U.S. but the entire world rejoiced his victory, what does his win mean to India?
On one hand Obama's anti-outsourcing ads helped him in being re-elected as the U.S. President and a lot of his proposals were based on changes to the tax code, with limiting deductions for companies that move jobs overseas, rewarding firms that return jobs to the U.S and increasing taxes on rich Americans. Obama had last year also been very vocal about reducing medical tourism to India, with a plan to change the U.S. healthcare system.
The U.S. President was quoted saying in response to a question about why U.S. health insurance won’t cover medical expenses incurred abroad, "My preference would be that you don't have to travel to Mexico or India for cheap healthcare." "I'd like you to be able to get it right here in the United States of America that's high quality," reported Natalia George for Yahoo.com.
Obama does see India as a potential market and even urged India to open up its economy to foreign direct investment. He said “As we look to India today, the United States sees an opportunity to sell our exports in one of the fastest-growing markets in the world.”