BANGALORE, Sept 11 � India today said �protectionist tendency� in the United States would deepen recession and delay global economic recovery, reports PTI.
�I feel protectionism tendency is unhealthy and negative, and lessons from the past make it abundantly clear they end up deepening the recession, they do not help in recovery of economies�, Union Commerce and Industry Minister Anand Sharma told reporters here.
Sharma was referring to Ohio state�s ban on outsourcing of to overseas companies, and before that, the US government�s decision to raise fees for H1B visas that would impact operations of the USD 50 billion strong Indian IT industry.
US President Barack Obama also said this week he would end tax-breaks for companies which �create jobs and profits in other countries�.
Admitting that India does not have legal options against such US measures, he said the larger issue was of �approach and philosophy�.
