“A historic second term for US President Barack Obama augurs well for the now-established Indo-US strategic and economic partnership. The strategic partnership has been nursed painstakingly by the Obama Administration and FICCI roundly applauds the stellar vision of President Obama in strengthening cooperation in higher education, defence and homeland security, agriculture and nuclear cooperation,” said Mr. R. V. Kanoria, President of FICCI.
It is noteworthy that Indian Americans have voted for President Obama in all the swing states. Even many of those who had shown an inclination for the Republican candidate eventually voted Democrat.
FICCI hopes that such support shown will help foster greater organic linkages between the world's two greatest democracies.
“We hope that the new Obama Administration will take a long-term and practical view on issues such as outsourcing which ultimately are in the US national interest because they help US companies drive down costs paving the way for expansion,” Mr. Kanoria said.
Indian companies continue to create jobs in America. Indian companies just in the last two years have created around 20,000 jobs in United States. FICCI with Ernst & Young is coming out with a study showing the implications of Indian investments in United States.
FICCI expects the new administration to set the US economy firmly on the path of revival and robust growth. This would be of great significance for the world economy and Indian exporters should be looking at a sustained rise in demand in the US.
In terms of high -tech transfers - it is expected that the second Obama administration will carry forward the momentum that had been setting in towards the last days of the first Obama administration. FICCI had been instrumental in lifting the ban on Indian Entities for high technology, dual use technology transfers and elevating India to higher category in the Country Control List making it par with most US allies.
FICCI also hopes that the US-India energy cooperation will reach a greater point with possibility of North America becoming a energy superpower with the discoveries of Shale and Oilsands.