Obama gave assent to key industrial bill

US president Obama has signed a key industrial bill, intended at bringing back thousands of jobs in manufacturing zone that over the years went to countries like China, into law to strengthen US economy.

"We will re-establish this economy stronger than before and at its heart will be three powerful words: Made in America," Obama said at a function held at the White House to sign the bill 'Manufacturing Enhancement Act of 2010' into act.

"For too long, we've been buying too much from the rest of the world, when we should be selling more to the rest of the world. That's why, in my State of the Union address, I set an ambitious goal for this country," Obama said.

It is essentially important for America to reverse the trend as 95 per cent of the world's customers and fastest- growing markets are beyond its borders, he said, adding US workers can compete with anybody when the playing field is even. "And we're going to compete aggressively for every job, for every industry, and every market out there," Obama said.

The Manufacturing Enhancement Act of 2010, he said, will create jobs, help American companies compete and strengthen manufacturing as a key driver of its economic recovery. Obama said the manufacturing sector has actually added 183,000 jobs so far this year, the strongest seven months of manufacturing job growth in more than a decade.