Nirmala Sitharaman refers to US cos in India as protectionism raises 

The comments assume significance in the wake of Indian companies, specially IT services providers, getting concerned over protectionism by the US and several other countries. Sitharaman said, "Let us also understand that not just Indian companies in the US, several big US companies are in India too. Concerned over Indian companies getting hit by tightening of US visa rules, Union Commerce Minister Nirmala Sitharaman said the "whole debate" has to be expanded to include several American firms that are earning their profits in India. The comments assume significance in the wake of Indian companies, specially IT services providers, getting concerned over protectionism by the US and several other countries. Sitharaman said, "Let us also understand that not just Indian companies in the US, several big US companies are in India too. They are also here, they are earning their margins, they are earning their profits which goes to the US economy. "So, it is a situation where it's not just unilateral just Indian companies having too face the US executive order, there are several US companies in India who are doing business for some years now and therefore I want this whole debate to be ... if it has to be expanded, it has to be expanded to include all these aspects and we shall ensure that all these factors are kept in mind." The minister said that developed nations are now clearly raising protectionist walls with regard to flow of labour and a WTO-backed global framework is needed to facilitate the services trade. 

So, this false equivalence which is being brought to manage numbers is just a smokescreen behind which many countries do realise that they are going to have to depend on these services trade," the commerce minister said. She rejected the view of developed countries that Indian professionals are taking away their jobs. Citing an example, she said the UK charges extra visa fee and uses that money to train their own people. "Increasingly, we are approaching bodies like the WTO to question such practices in the services sector," Sitharaman said, adding that many of the rich countries are framing policies on their "whims and fancies". This kind of discretionary use of measures to control movement of professional is "hurting them and us also". Asked about demographic dividend, Mohandas Pai, former director of Infosys, said there are "no" demographic dividend in India as crores of youth are unemployed here

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