Where is the meat for us, asks India Inc

At the end of his keynote address on Saturday, the tsars of corporate India rose to give US president Barack Obama a standing ovation.

But that warm gesture did not reflect in their reactions. India’s top business honchos felt that there was a lot more for American audiences watching than there was for India.

“Talking about a partnership based on equality is fine but what about the ground reality?” asked industrialist Rahul Bajaj.

Speaking to DNA soon after Obama’s address, he said, “You know, I was talking to Anand Mahindra and he said, ‘Pehle hum maangte the aura ab woh maang rahe hain’ (First, we were asking and now they are). And this is our position of strength that the US is waking up to. How can they ignore 1.1 billion people and their aspirations, since that will open doors to markets for them?”

Others also expressed their displeasure. The head of software major, who preferred to remain anonymous, said, “Apart from fleeting references to our concerns about the US’ protectionist policies on outsourcing, there was nothing.

All the bluster on deals will only assuage American voters but where is the meat for us? I’m amazed that the US can keep bringing up restrictions by India for US companies and conveniently forget the increase in visa fees to raise an $600 million to beef up security on the US-Mexico border.”

The software firm head pointed out that US accounts for about 60% of India’s total $50 billion IT and ITeS exports, and called the visa fee hike discriminatory.

“The banning of outsourcing of government IT projects by Ohio was the proverbial last straw. Why was Obama quiet on this?”

The IT industry has denied the US claim that it was the reason for job loss in the US and pointed out that it was the only sector that created jobs.

Job losses were in manufacturing, retail, and other industries. “We in India are a part of the solution, and not the problem (of unemployment),” said Som Mittal, president of Nasscom.

But Hiranandani group MD Niranjan Hiranandani was all praise for Obama’s oration. “It brought back memories of his inaugural speech,” he told DNA and added, “There is a lot of promise and we will have to wait and watch to see how this translates on the ground. The Delhi lap of the visit will only further clear issues.”

Among those present from India were Tata group chairman Ratan Tata, Reliance Industries chairman Mukesh Ambani, Reliance ADAG chairman Anil Ambani, Mahindra & Mahindra vice-chairman Anand Mahindra, among others.