solution to avoid economic slump

In the last week Obama has introduced new measures and even indicated that he is completely against outsourcing. He even warned companies against outsourcing saying that they will have to face more taxes. Obama's policies look to be more like a communist government. Anyway, all this is happening in US and why should it affect us. This is the thinking most of the people have. 60% of the software outsourcing work is done by India. So any measures like that is surely going to affect us. So if all these actions are being taken by US should India keep quiet. No, but is anybody listening. In India, all the politicians seem to be in the election mode. All they have done till date is to fill up their pockets with money.

So is there a solution to get out of all this. Of course, every problem has a solution. Today you have seen rupee hit a new low even breaching the 50 rupee per dollar mark. The first thing that everyone in the county should do is to encourage buying of Indian products. Please avoid buying any foreign product. Indian market is the second largest market in the entire world. Yet, if you see any general stores in the market you will find 70% of the products are foreign goods.

The government should have immediately increase the import duty on all foreign products. This would immediately bring down the sales of foreign products and Indian companies would come out of the situation that they are facing today. The fiscal deficit that India is facing today will also be avoided with this step. This would be a fitting reply to Obama's stand against outsourcing.

Anyway, you cant expect the government to take any action. So lets all take a pledge to avoid foreign products from today.

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