Endorse India for permanent UNSC seat: USIBC asks Obama

Washington, 02 November 2010: The U.S.-India business community wants President Barack Obama to endorse India for a permanent seat in the UN Security Council, and address issues of concern for New Delhi like the H-1B visa fee hike and fears about outsourcing of U.S. jobs to India.



Ahead of Mr. Obama’s India visit this week, they have also advocated the lifting of most dual-use export licensing requirements specific to India and batted for making licensing and clearance for defence articles easier for India.



At the same time, the report submitted by the U.S.-India Business Council (USIBC) has said suggested that India needs to increase the FDI investment cap to 74 per cent to spur greater investment and transfer of technology. “The United Nations Security Council remains the clearest symbol of decision—making in world security matters.



The U.S.-India business community strongly feels that our partnership should begin here,” said the report ‘Partners in Prosperity Business Leading the Way’ released by the USIBC, whose chairman is Terry McGraw, chairman president and CEO of The McHGraw-Hill Companies.



“President Obama calling for a renewal of the UN Security Council and the inclusion of India as one of its new permanent members will galvanise both societies, laying the groundwork for deeper collaboration at every level,” it said.



Outsourcing of U.S. jobs



Observing that the U.S. midterm election season has resurrected unfounded fears about outsourcing of U.S. jobs to India, the report also noted that the U.S. Congress’ recent move to raise H1-B and L1 visa fees for foreign companies has caused concern in the industry. ...

http://www.bellevision.com/index.php?action=celebrity_watch&type=392

However, it is silly that the one nation that rivals China for population does not have a permanent seat, but that little France and England do.