US tells Indian cos to create jobs in America
Washington, Feb 18: Strange as it may sound, United States wants Indian companies to create jobs in United States as it believes that “fair tax policy" can be used by the companies to generate employment.
“You can create jobs in America, and have fair tax policy and double your exports", US Ambassador to India Timothy J Roeme regarding outsourcing, adding that US too believes “very, very deeply" in regard to trade issue.
Roeme dismissed concerns, which triggered after President Barack Obama had called American companies having operations in India as businesses tax evaders.
“There are some companies that try to take advantage of U.S. law, not in India; they try to manipulate U.S. law for the most part and create tax havens in other places in the world", Mr. Roemer told reporters late Wednesday evening. The U.S. President is trying to target them and “go after", he said.
Earlier on Feb 12, US president Barack Obama had alleged US companies outsourcing overseas of unfair practice.
"If you are a business here, entirely located in the US, and investing in the U.S., and hiring workers in the U.S., you are paying a 35 per cent rate."
"However, if you are a multinational and you are investing in India, and your workforce is in India, and your plants and equipment are in India, but your headquarters are here, you are taking deductions on all the expenses in India, but you are keeping your profits outside the U.S.; and that just doesn"t seem entirely fair", he had argued.
On the other hand, Roeme supported US solar technology firms initiating and expanding their exports to India.
“There are 15 cutting-edge solar companies seeking local trading partners and project opportunities", Roemer said.
A trade mission of 15 US solar companies Acting Assistant Secretary for Manufacturing and Service, Mary Saunders is currently on its visit to Bangalore.