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CII welcomes Barack Obama to India

President Obama’s visit to India marks the commitment of the US Administration towards strengthening relations with India as a strategic partner, this year

October 25, 2010 11:08 IST | India Infoline News Service

US President Barack Obama assumed office in January 2009, in the midst of a dire and challenging economic scenario, bringing a message of hope and change.


While some in India hailed the success of democracy with the incoming young, dynamic leader, some remained skeptical of emerging policies. 
 
Prime Minister of India
Dr Manmohan Singh was the first Head of State received by the President Obama in the US in November 2009.


President Obama’s visit to India in November 2010, in the first term of his Presidency marks the commitment of the US Administration towards strengthening relations with India as a strategic partner


CII welcomes President Obama to India and hopes that this visit will facilitate key business policy decisions and strengthen corporate linkages between Indian and US companies.

India-US bilateral trade and investment, though still relatively small, have been growing steadily. Contribution made by Indian companies has also increased manifold in recent years.

"The US has always been one of the leading investors in India. In recent years, Indian FDI in the US has been growing at a much higher rate than US
FDI in India."

"In fact, Indian companies are investing immensely in the US, creating jobs, running training programs, engaging in M and A activity, undertaking R and D projects, and increasing their contribution across multiple sectors,” said Chandrajit Banerjee, Director General, CII.
 
To showcase growing economic relations, CII is proud to co-organize the 'Business and Entrepreneurship Summit' on 6 November in Mumbai, featuring a keynote address by President Obama.

“It will be a historic moment to see President Obama in support of strengthening US-India business ties."


"CII is pleased to be a catalyst in this evolving partnership. The fact that President Obama’s first public appearance in India will be at a business summit reaffirms that bilateral economic relations lie at the center of the US-India strategic partnership,” Banerjee added.

On this occasion,
CII is also organizing a business conference 'India-US: An Agenda for Co-Creation' on 8 November in New Delhi, which will be addressed by senior government officials as well as prominent business leaders from US and India.


A large delegation of US companies, organized by USIBC will also participate.

CII is hopeful that this interaction will result in concrete decisions and actions, including joint collaborative work in
agriculture, energy, education and infrastructure.

Enhanced
high technology cooperation is also expected through bilateral agreements in aviation, space, defence and biotechnology.

CII is also optimistic that there will be movement in easing export control regulations, early conclusion of the proposed
Totalization Agreement as well speedy negotiations of the Bilateral Investment Treaty




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