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India hopes for better economic ties with US after Obama's re-election

Source : ANI
Last Updated: Wed, Nov 07, 2012 13:41 hrs

Finance Minister P. Chidambaram on Wednesday hoped that India's economic ties with the United States would improve after President Barack Obama's re-election on Tuesday.

President Obama won a second term in the White House, overcoming deep doubts among voters about his handling of the U.S. economy to score a clear victory over Republican challenger Mitt Romney.

Addressing media persons in New Delhi, Chidambaram said: "I hope especially economic relations get stronger."

Obama, America's first black president, won by convincing voters to stick with him as he tries to reignite strong economic growth and recover from the worst recession since the Great Depression of the 1930s. An uneven recovery has been showing some signs of strength but the country's 7.9 percent jobless rate remains stubbornly high.

Meanwhile, leader the Communist Party of India-Marxist (CPM) Brinda Karat said there was no difference between the Republicans and the Democrats when it came to foreign policy.

"Be it Obama or Romney, both were in favour of FDI in retail. But the people of the US have elected him and he is answerable to them. However, I don't think there is much of a difference between Republicans and Democrats when it comes to foreign policy," said Karat.

Americans chose to stick with a divided government in Washington, by keeping the Democratic incumbent in the White House and leaving the U.S. Congress as it is, with Democrats controlling the Senate and Republicans keeping the House of Representatives.

Also, speaking in Bangalore, president of the National Association of Software and Services Companies (Nasscom) Som Mittal hoped that President Obama would carry out all his economic promises.

"I want to congratulate President Obama for his second term. The USA plays a very important role in world economy. If the US economy is doing well then it is good for the world economy as well. This time Obama's charter included reducing deficit, strengthen the economy, create jobs etc. So these were important issues and we hope he will fulfil these targets," Mittal said.

Obama told thousands of supporters in Chicago who cheered his every word "we have picked ourselves up, we have fought our way back" and that for America, the best is yet to come.

Also, Jane, a US national said that Romney made a lot of crucial mistakes during his campaign.

"I think there were a lot of undecided voters and I think at the end the Romney campaign made some missteps that were observed and watched. I think that his behaviour around the superstorm Sandy was not professional. I think his critiscm of Governor Christine was indefensible and I think people noticed that. I think he lost a lot of supporters. In the end people agreed that we have had 32 straight months of job growth. There is no denying that," said Jane.

The nationwide popular vote remained extremely close with Obama taking about 50 percent to 49 percent for Romney after a campaign in which the candidates and their party allies spent a combined $2 billion.

Romney, the multimillionaire former private equity executive, came back from a series of campaign stumbles to make it close after besting the president in the first of three presidential debates.

At least 120 million American voters had been expected to cast votes in the race between the Democratic incumbent and Romney after a campaign that was focused on how to repair the ailing U.S. economy.

The same problems that dogged Obama in his first term are still there to confront him again. He faces a difficult task of tackling $1 trillion annual deficits, reducing a $16 trillion national debt, overhauling expensive social programs and dealing with a gridlocked U.S. Congress that kept the same partisan makeup. (ANI)

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