NEW DELHI - (Business Wire) Industry leaders from the U.S.-India Business Council (USIBC) and Confederation of Indian Industry (CII), led respectively by Chairman & CEO of PepsiCo, Indra K. Nooyi, and TVS Group Chairman, Venu Srinivasan, met face-to-face in New Delhi to discuss plans to advance the U.S.-India relationship on the eve of Prime Minister Manmohan Singh’s upcoming visit to Washington to meet with President Barack Obama. The Prime Minister’s historic trip to Washington will be the second such visit by Prime Minister Singh and the first official state visit hosted by the Obama Administration – representing the highest honor extended to any foreign dignitary.
CII and USIBC spoke to the importance of building on the enthusiasm generated by this momentous occasion and agreed that the future of U.S.-India commercial relations was exceedingly bright. Both organizations underscored the enormous opportunity for progress given the vibrancy of the newly elected governments, sparking confidence that the two leaders will engage in the broadest possible economic agenda for 2010.
As part of such an agenda, CII and USIBC leadership concluded with a shared view that specific attention be paid to:
- Close coordination on economic policy as the world moves out of the current financial downturn
- Progressing trade-related and investment issues, including the finalization of a Bilateral Investment Treaty (BIT) and the successful conclusion of the Doha Round
- Resolving the remaining issues related to the civilian nuclear agreement and continuing to advance Defense cooperation
- Working toward a positive outcome in Copenhagen while fostering growth and innovation through new technologies in the Energy sector – as well as Agriculture and Life Sciences
- Mobilizing capital investment for important infrastructure projects
- Promoting advances in public health and educational development
“I am confident 2010 will be a watershed year in U.S.-India relations – driven by the collaborations between our like-minded governments and our ever-innovative business communities. After all, it has been the entrepreneurial dynamism of the U.S. and Indian business sectors that has propelled the transformation of our economies now underway,” said Ms. Nooyi, Chairman of USIBC.
Mr. Srinivasan, who also serves as President of CII, built on earlier comments by saying, “Working together, we can positively affect the lives of millions of our citizens for generations to come. Focusing on collaborative synergies, innovation-led entrepreneurship and inclusive growth across the strata will provide a major impetus to future growth and development.”
The meeting was moderated by Mr. Tarun Das who noted “the need for industry to think out of the box and conceive sustainable solutions to the major challenges surrounding the themes of unemployment and job growth, need for infrastructure investments and collaboration and growth that reaches the ‘bottom of the pyramid’.”
Both sides pointed to the newly revitalized U.S.-India CEO Forum as an example of the commitment shown by both governments toward achieving lasting reforms in the coming years.
“CII and USIBC welcome the discussion of our two governments to tackle the most crucial economic challenges at the highest levels and we pledge our support to the endeavor,” proclaimed Ms. Nooyi.
The PepsiCo Chairman & CEO closed the meeting by saying, “All of us in the United States look forward to welcoming Prime Minister Singh for what will most certainly be a historic and successful visit.”
The U.S.-India Business Council (USIBC), formed in 1975 at the request of the Government of India and the U.S. Government to deepen trade and strengthen commercial ties, is hosted under the aegis of the U.S. Chamber of Commerce. The U.S. Chamber of Commerce is the world’s largest business federation representing more than 3 million businesses and organizations of every size, sector and region.
The Confederation of Indian Industry (CII) works to create and sustain an environment conducive to the growth of industry in India, partnering industry and government alike through advisory and consultative processes. CII is a non-government, not-for-profit, industry led and industry managed organization, playing a proactive role in India's development process. Founded over 114 years ago, it is India's premier business association. Within the overarching agenda to facilitate India's transformation into an economically vital, technologically innovative, socially and ethically vibrant global leader by year 2022, CII's focus this year is on revival of the Economy, fast tracking Infrastructure and improved Governance.
The Prime Minister will address U.S. Industry at the US-India Business Council when he visits the United States on November 23rd.
www.usibc.com
www.cii.in
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USIBC
Ron Somers, 202-463-5626
