New Delhi: Prime Minister Manmohan Singh on Monday said India was not in the business of stealing jobs from the United States.
Singh’s remarks came at a joint news conference with visiting US President Barack Obama.
Obama’s trip to India is aimed to seal big-ticket business deals to secure jobs and exports as well as countering Indian perceptions he has relegated Asia’s third-largest economy behind rivals China and Pakistan.
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President Barack Obama locks Prime Minister Manmohan Singh in an embrace soon after holding a joint press conference at Hyderabad House in New Delhi on Monday. Charles Dharapak / AP photo
The President has said the world economy could not sustain a situation in which some countries ran up massive trade surpluses or deficits.
Obama said his mandate was to grow the US economy and the worst thing for the world economy would be if the US economy were stuck with no or low growth.
Obama defended the Federal Reserve’s role in boosting the US economy, following fierce foreign criticism of its “quantitative easing” policy to buy up government debt.
‘US can’t impose solution on Kashmir’
Obama said that the United States could not impose a solution on Kashmir or other issues in the volatile India-Pakistan relationship.
“I believe both Pakistan and India have an interest in reducing tensions between the two countries,” Obama said when asked about the Kashmir dispute at a press conference.
But he added: “The United States cannot impose a solution on these problems.”