U.S. Businesses Seek Clarity, Predictability In Indian Policies

"Therefore the presence of the Prime Minister in town meeting with the business community in New York is very important to send the signal that India welcomes your investment, needs your investment and wants your investment and encourages you as government of India in a very big way," Somers noted.

Arguing the case for building a robust manufacturing base, Somers said that should be attracted and be encouraged by market driven incentives and not by mandate.

Preferential market access (PMA), he noted, caused everybody to be thrown from loop.

"We would hope that the private sector is completely carved out, the private sector needs to do where it is best, knows to be innovative," he said.

"We need to have an understanding of each other. It is true that innovation and technologies is going to the future of both of our economies. And to have innovation, technology, you have to have environment that rewards and protects intellectual property.

"Those issues are vitally important. Intellectual property, manufacturing, market-driven and market-based incentivized and clarity and predictability on tax," he said.

Siding with India on the concerns related to certain provisions of the immigration bill, in particular those related to the H-1B and L1 visas, Somers said, "Let's have an immigration bill that does not close our borders when we are asking India to open hers.”

Somers said USIBC is taking up the case of India and Indian companies on Capitol Hill and exuded confidence that its views would be incorporated in the final version of the bill.

Read More:

India- The New R&D Hub Of Global Giants

5 Indian IT CEOs With Highest Salaries