Bangalore: Wipro chairman Azim Premji on Wednesday
said India should continue to exert pressure on the United
States not to switch over to an era of protectionism.
Premji said the visit of the US Secretary of State
Hillary Clinton to India had stated that Washington would not
"switch over to protectionism".
"I think our Prime Minister (Manmohan Singh) and the
External Affairs Minister (S M Krishna) have taken this up at
the appropriate levels in Washington", he told reporters in
response to questions. "The Prime Minister has taken this up
three times with President Barack Obama," he said.
So, as of now, the issue seemed to have been contained,
the Chairman of the software major, listed on New York Stock
"But one should be alert to the fact that the US is
facing an unprecedented degree of unemployment...excess of 9.8
per cent", Premji said, adding, one should continue to keep
the pressure on the US not to "switch over to the methodology
He also said Wipro was taking proactive steps to increase
the number of local people in its workforce in overseas
operations. Today, locals constitute as much as 30 per cent of
its headcount overseas.
APEC trade ministers warn against protectionism
Asia-Pacific trade ministers
today said here that the worldwide economic slump may be
nearing its end but warned against protectionism while
pledging to work harder for a new WTO deal by 2010.
"The global economy appears to be bottoming out, but the
outlook remains uncertain and significant risks remain," the
ministers from the Asia-Pacific Economic Cooperation (APEC)
forum said in a statement.
"We will therefore persist with efforts to support growth
and facilitate trade and investment flows, keep our markets
open, and give a new push to concluding the Doha Round."
First Published: Wednesday, July 22, 2009, 22:04