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India
Inc looks forward to Obama visit
Thursday November 04, 2010 06:51:23 PM,
IANS
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New Delhi:
Corporate India is expecting US President Barack Obama's India
visit beginning this weekend would result in more opportunities
for business in the American market and the world's largest
economy will remain accessible to exports from the country.
"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 centre of the US-India strategic
partnership," the Confederation of Indian Industry (CII) said in a
statement.
It hoped Obama would assure that the US market would remain open
to Indian exports and his administration would curb any
protectionist tendencies.
"With India-US bilateral trade projected to reach record levels
this year and top $50 billion, corporate India is looking forward
to the upcoming visit of President Barack Obama to help realise
the true potential of their economic ties," said the industry
lobby.
Obama is scheduled to address business leaders in Mumbai Saturday.
The CII, Federation of Indian Chambers of Commerce and Industry (FICCI),
and US-India Business Council (USIBC) are co-hosting the event.
The FICCI said it was keenly looking forward to significant
relaxation in the export control regime of the US for dual use
technologies.
"India is being denied 10 of the 16 nomenclatures, including
chemicals and biological materials -- technologies which fall
under 'non-proliferation', 'national security', 'missile
technologies' and 'crime control' of the US," FICCI Secretary
General Amit Mitra said, adding the chamber looked forward to some
movement in this regard.
"The length of the visit of four days and disconnected with his
future visit to Pakistan are two strong signals, defining the
nature of Indo-US relationship in the 21st Century," Mitra said.
Both CII and FICCI have organised a series of events coinciding
with the Obama visit.
CII will be hosting a business conference "India-US: An Agenda for
Co-Creation" here Nov 8, to be addressed by senior government
officials and prominent business leaders from US and India.
"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."
FICCI would host a strategic dialogue with leading US think tank
Brookings Institution on Nov 2. The US delegation will be led by
Strobe Talbott, former deputy secretary of state.
A major interaction is also planned with US delegates focussed on
innovation, science and technology.
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