Indian American Biz Leaders to Discuss Bilateral Ties

WASHINGTON: In a bid to explore new opportunities to take the Indo-U.S. commercial ties to the next level, top business leaders of the two countries will review business relationship and suggest a smooth pathway for bilateral trade at the FICCI-IIFA Global Business Forum 2014. The two-day Global Business Forum, organized in Tampa on the sidelines of the IIFA Awards, will be addressed by a host of top Indian business leaders and corporate executives, such as Ms Nisha Desai Biswal (Assistant Secretary of State for South and Central Asia), Mr N R Narayan Murthy (Infosys executive chairman) and Mr Didar Singh (FICCI secretary general) among others.

"This forum is bringing together business leaders from India and the United States to explore new opportunities to take the Indo-U.S. Commercial ties to the next level,” said organizer Mr Kaushal Chari, Associate Dean for Research and Professional Programs, university of South Florida. Mr Biswal will deliver keynote remarks on U.S.-India trade and economic cooperation at the Federation of Indian Chambers of Commerce and Industry - International Indian Film Academy (FICCI-IIFA) Global Business Forum, a statement by the state department said.

She will also meet with a wide range of industry, Diaspora and business leaders to discuss public-private partnerships and also with U.S. Central Command (CENTCOM) leadership to discuss regional security issues, besides attending the IIFA Awards to honor excellence in the bollywood film industry and promote U.S.-India cultural and commercial ties.

According to the university of South Florida, which is hosting the event themed as “Indo-U.S. Partnership: A Catalyst for Economic Growth”, India and the United States follow business practices anchored in core values of democracy, pluralism, individual freedom, and respect for contractual obligations. "These similar values provide a starting point for these two nations to pursue deeper partnerships and enjoy the resulting benefits. However, protectionist policies followed by both nations are obstacles to deeper commerce ties.

These policies include barring foreign companies from certain sectors of the economy and raising the cost of doing business through regulations and legal measures," it said. Indian-American community has been at the forefront of innovation, knowledge-based services, and entrepreneurship, creating jobs and contributing to the U.S. economy. Two-way trade in goods between India and the U.S. crossed the $60 billion mark in 2012, but there is potential for reaching the $100 billion mark, it said.

The Indian economy has grown to be the 10th largest in the world, and experts project India will become one of the top five economic powers by 2050, it added.

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