India & America

After the announcement of next president of USA, there were a hue and cry in Indian media that Indian Premier did not talk to him and vice versa. It was construed in the anti-Indian line. I guess it will be premature to get into such hypothetical conclusions. The fact is that Dr.Manmohan Singh was on a foreign trip at the time when US election results were declared. After Prime Minister returned, there was indeed a dialogue. Obviously foreign policy evolves very slowly & there are no discontinuities simply because of a power change at the helm. This is under normal circumstances & I am not considering abrupt changes such as coup etc. Hence I feel there is nothing to worry either for India or for America. Since there are not much juicy news at this point of time, media made up a hill out of a mole. Some statements were found in the US media about restrictions in the outsourcing industry which can adversely affect Indian Industry. Already the recession in US has affected profits of IT industry. I am stressing the word profit because no firm has gone to red owing to that. I guess every industry will find alternate avenues for coping up. In fact the outsourcing is clearly a win-win situation and i can't see why status quo needs to be disturbed. America is defenitely one of the biggest capitalistic countries and excessive governmental restrictions will alter the whole nature of economy. India on the other hand is less capitalistic in nature. Financial sector can be taken as one example. There are many restrictions on pension funds as to where they can park the money. After all government has got the responsibility of ensuring growth of accumulated money. On one hand this looks bit strange since profits would have been enormous if funds were allowed to invest in stock especially secondary market. On the brighter side, the funds remain unaffected by the recent plunges in market. Here also i feel status quo will continue. Neither US will try to reign business houses too much nor India will allow certain sectors to play way ward.
"Loka Samastha
Sukhino Bhavanthu"