Rejecting retail-FDI smacks of mercantilism

When Barack Obama was sworn in as the 44th President of the US in January 2009, there was some scepticism and cynicism in India as he had expressed quite strong views about outsourcing in his campaign speeches. Though he never specifically mentioned India, there was little doubt about which country he was referring to. Many within the US reasoned that benefiting from the skilled, cost-effective and efficient Indian human resources will be favourable to the US economy in the long run. And, thankfully, despite the political rhetoric, the GEs of the world did not stop relocating jobs to India, as it was economically the most sensible thing to do.

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