Bangalore, May 8: Wipro's chairman Azim Premji has expressed 'concern' over the protectionist measures of the Obama administration saying that the steps proposed were contrary to the vows made by Barack Obama in the G20 summit.
Speaking on the recent reforms in the corporate tax in US, Premji said on Thursday, May 7, “We are reading too much into it...one needs to wait and see."
However, he called upon the US president to 'exercise a lot of judgement' on the matter of these tax reforms.
On the global economic situation he said, “There are some signs of stability and a recovery is expected during the second half of the current fiscal."
Girish Paranjpe, joint CEO, IT business, Wipro, added that things were changing but one can not expect rapid recovery.
In the summit Barack Obama had made statements on expanding free trade.