Developing countries are facing ‘market denial’: Arun Jaitley

Commerce and Industry Minister Arun Jaitley said while the buzzword at the ongoing trade negotiations is market access, in reality, it is ‘market denial’ that the developing countries have to face.

Jaitley was reacting to media reports that four American states — New Jersey, Connecticut, Maryland and Washington — were considering legislation to ban outsourcing of state data processing contracts to developing countries. He was speaking after laying the foundation-stone for the FIEO’s Niryat Bhawana on Monday. The report also said dozens of household names spanning insurance banking, technology and telecom are transferring a part of their white collar administrative and customer services work to Asia, particularly to India to cut costs. Minister of State for Textiles B.R. Patil, Commerce secetary Dipak Chatterjee, Fieo president Rafeeque Ahmed, and others were present.