New York: Dismissing US Democratic Presidential candidate John Kerry's views against outsourcing as "pre-election rhetoric", Finance Minister P Chidambaram has said he is not worried about the campaign against off-shoring as American businesses have realised its benefits.

The businesses in the United States understand the benefits and values of outsourcing, he told investors while addressing an investors forum and later a press conference in New York yesterday (Oct 6, 2004).

Moreover, he said for every Dollar outsourced by the US business, it gets back five to ten Dollars.

"Business understands very well that outsourcing brings in-sourcing and keeps it competitive. No body questions the wisdom of outsourcing," he said.

Chidambaram, who had meetings with several investors, told reporters that outsourcing did not figure in talks as it is a settled issue.

He also dismissed the opposition to outsourcing being voiced by Kerry and his campaign as "pre-election rhetoric."

He agreed that India would face competition from other developing nations but expressed confidence that it would be able to withstand it.

Stating that India welcomes competition, Chidambaram said better education and better training are the answer to it.

Pointing the high standards of the Indian educational and technical institutions, he said, "We will do well".