Rocket Obama: salesman of the year
Before analyzing Barack Obama’s, high profile, Rs. 900 Cr per day, India visit and the possible business opportunities it could generate for recession hit America. Let us first look at the American economy’s post recession standings that have witnessed a drastic shift after the subprime crisis. With a growth rate of 2.4 percent in second quarter of 2010, America’s GDP is down, its national income is growing at about less than 2 percent per year, and most importantly the unemployment rate, a major concern for Obama administration, is at its highest in 25 years and may not be dropping anytime soon. Out of the total labor force of 154.5 million people, 15 million are unemployed. No doubt the US is in economic trouble, which is why US is out, hunting for potential markets like India to get its economy growing again. Over his three-day visit Obama managed to secure deals worth $ 15 billion with India, assuring 54,000 jobs back home. Though this figure will be a drop in the ocean but for US ...