Export market growth imperative for US economy

Washington, Dec 9 (PTI) Noting that export orders of worth USD 10 billion from India contributed to over 50,000 jobs in the US, President Barack Obama today said growth in export market imperative for US economy.

Obama, in his address to the President's Export Council at the White House which discussed the ways to promote a strong and growing economy, said the world wants products made in America, adding that for every USD 1 billion that US increases in exports supports more than 5,000 jobs.

"So at a time when jobs are in short supply, growing our export markets is an imperative, and growing our exports today will create the jobs of tomorrow. Ninety-five per cent of the world's customers and the fastest-growing markets are beyond our borders," he said.