February 7, 2012 9:10 PM

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Current economic woes in US would not lead to protectionism: Ranjan Mathai

India on Tuesday expressed the hope that the current economic woes in the US would not lead to protectionism and said that concerns of the Indian IT industry over anti-outsourcing measures announced by President Barack Obama recently, will be addressed quickly. Foreign Secretary Ranjan Mathai, on his first bilateral visit to the US, told the officials of Commerce Department in Washington that the Indian IT industry in the US has contributed 15 billion US Dollars in taxes alone in the last five years and underlined the need to eliminate discriminatory actions.The issue is believed to be raised in the backdrop of Obama's State of the Union address in which he outlined measures to bring jobs back to the country. Obama had said his administration would offer incentives to those firms which will create jobs in the country.

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