An Open Letter to President Obama
Asoke K. Laha
President & MD, Interra IT
Sir, exactly four years back, I had penned my first open letter to you in this column. I am tempted to put this letter in the public domain, for the same reasons, but with a slight difference. Four years back, you were, Sir, a novice and four summers younger. Now, Mr President, you are experienced and seasoned. Yes, Sir, you have roughed up many tough terrains in the last four years. You had inherited at that time an economy which was imploding into a major catastrophe. Yet, you have kept your spirits high and tried to approach problems empathetically and with an unparalleled sincerity and honesty. You have inspired the people when they were down with the pangs of slowdown; you made them feel that you are one among them and one can feel and fathom their agony. They came around you as a ray of hope, which can dawn in a new awakening and a new economic architecture.
Early next year, you will be swearing in and will take up the mantle again with a new set of agenda. Indeed, the world economy has come into a full circle during the last four years. Happily, the world economic situation is not as grim as it was earlier.
We are aware, Mr President, the new world order that is in the making is quintessentially different from the one that we had lived. People across the world are clamouring for an equitable system of governance driven by ethical and normative approaches. Sir, you are the first President who has recognized the changing role of India in the world scene. During your visit to India a few years back, you had given a clarion call to the Indian businesses and industry to invest in the US to create the much-needed employment fillip. Since then, a number of investments have sprouted in the US from the Indian side. Companies of all hues and size are investing in the US.
We recall with considerable warmth and hope your recent statement that the Obama 2 administration would continue to build and consolidate on the Indo-US partnership in its entirety. While underscoring the need for earliest kick-start of such initiatives, may I, Mr President, flag mark a few wish lists that you may consider while framing your “Focus India Policy”.
Foremost is the trust-building exercise amongst the people of both countries. It is a fact that the economic dynamics of our two countries are more intertwined ever before. An economically struggling US signals grave problems to India as we have evidenced in the past and are still experiencing. Outsourcing is not a taboo in the present world. It is a business model that suits convenience of the modern world and help corporations to maintain their optimality in many ways. Perhaps, you may be aware, Mr President, that, in India, outsourcing is the new mantra both for the government and the private sector. Billions of dollars worth business activities are outsourced domestically and a growing percentage is outsourced overseas. Even our nationalized banks are outsourcing a large number of non-core activities and the type of such activities are increasing. Our e-governance works of the Central and State administrations are mostly outsourced to foreign companies. Of late, we have been spending a lot on homeland security and for beefing up our external security systems. The US corporations are a major partner and beneficiary in these projects.
My only submission is that no country stands to lose from outsourcing. It is a win-win situation. I am not quantifying the cost leverage that a US corporation would accrue by outsourcing. It is well mapped and documented. The less known fact is that most of the outsourced works are done in platforms and equipment imported from the US – be they satellites, Internet, PCs, laptops, mobiles and what have you.
Of course, outsourcing is an old agenda in the bilateral relations. There are seemingly large opportunities that are in the horizon, which can bind us together economically. Let me dwell upon an area that is connected with information technology and that is smart and microchips, which are going to be used widely in India. Mr President, these are the critical areas that the US can tap in the Indian market. Yes, there is significant presence of the US corporations in these areas. But such partnerships are not well-known and properly documented among the common people of the US.
Undeniably, Mr President, our partnership has grown by leaps and bounds. But does it belie the potential? Many believe that we have not achieved a fraction of what we ought to have. I am not getting into a debate on the business practices and try to value judge the merits of any practice. What I am trying to espouse is the need for understanding the business practices of both body languages and, more importantly, business etiquettes of each other for taking our business relations to its next level. Otherwise, I am afraid, Mr President, our businesses will continue to be in the realm of a few corporations, entities and individuals. What we need is a massive expansion of business relationship and transactions to encompass the common man in both the countries.
Mr President, I am an India-born US citizen. Recently, I have become the Executive Vice- President of Indo-American Chamber of Commerce, the only binational body that facilitates trade and investment between our two countries. I will eventually take over as the National President of the organization. The strengthening of economic partnership between our two countries is central to my heart and endeavour. May I pledge my support in fructifying your vision of a strong Indo-US partnership, dialogue and economic engagement!
May I, on my behalf and on behalf of the people of India, wish you a happy and prosperous Xmas, New Year and a more successful second term as the President.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.