Hyderabad: The Indo-US bonhomie is in full flow and US President George Bush on Friday added his last bit to keep it flourishing.
During an interacting with young entrepreneurs at the Indian School of Business, Hyderabad, President Bush ruled out any protectionist measure to address his domestic concerns on outsourcing and favoured easy access for Indian students to American universities and schools.
"I have taken a position. The US will reject protectionism. We won't fear competition. We welcome competition," he told students and young entrepreneurs at the Indian School of Business, which has collaboration with Wharton School and Kellog School of Management.
Noting that people lose jobs as a result of globalisation, Bush said, "Losing job is painful. But the fundamental question is how does the government react."
He said one way was to resort to protectionist laws and the other was to educate people so that they found jobs in the 21st century.
"Let us make sure that pro-growth economic policies are in place - it means low taxes, less regulations, fewer lawsuits and wise energy policies," the US President said.
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Bush said globalisation provides 'great opportunities' and asserted that his country would not 'pull back' from competition.
Highlighting India's importance in terms of business, he said the country had a 30-crore middle class market.
"If we make a product they want at a reasonable price, it becomes viable. It will have a market in India," he said, adding that the people of America should maintain their confidence about their future.
Bush, whose audience included several entrepreneurs educated in the US, said the American Universities and colleges should be accessible to Indians.
He said it helps change the perception of the country. "We welcome people to the US so that you can see first hand good side and bad side and you can draw your own conclusions."
(With agency inputs)
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