Anand Sharma Attends Second Meeting of US-India CEO ForumOpportunities to Promote Investment and Job Growth

By
INVC Desk
-
27
52

INVC,,

Washington DC ,,

Anand Sharma, Minister for Commerce and Industry led an official delegation for the second meeting of the reconstituted US-India CEO Forum at Washington DC yesterday. The meeting was co-chaired by Shri Ratan Tata, Chairman, TATA Group from the Indian side and Mr. Dave Cote, CEO, Honeywell Inc., from the US side. The CEOs from the two countries discussed opportunities for new partnerships between businesses in the United States and India, and ways to promote investment and job growth in both countries. The meeting was also attended by Finance Minister, Shri Pranab Mukherjee and Shri Montek Singh Ahluwalia, Deputy Chairman, Planning Commission. The US official delegation included Secretary of State Mrs. Hillary Clinton, Treasury Secretary Timothy Geithner, Commerce Secretary Gary Locke, US Trade Representative Ambassador Ron Kirk and Director of National Economic Council Mr. Larry Summers.

The US-India CEO Forum presented its recommendations to the representatives of both the Governments. These recommendations broadly covered areas like infrastructure; clean energy; education and skill development; bio-technology and breakthrough long-term ideas like a diabetes breakthrough project and strategic space co-operation.

During the interactions, Shri Sharma explained that “we are in the process of conceptualizing National Manufacturing Investment Zones as integrated industrial townships with state-of-art infrastructure and complete eco-system for manufacturing industry. This mechanism is being developed in response to the concerns on availability of developed land, infrastructure and other services for industry. A discussion paper has been placed on the website of the Department for wide-ranging consultations on this initiative. He invited the CEOs to give their comments and suggestions so that Government could take an informed decision in the matter”.

In response to a suggestion for reduction in Indian import duties on security technologies and products, he explained that 100% FDI is permitted under automatic route for manufacture of such equipment in India for non-defence application. There is a large and growing market and it would be a win-win situation for both sides if concerned businesses could establish in India. On India’s Foreign Direct Investment regime, CIM said that India has a liberal and transparent FDI regime in place except for a few sectors like banking and insurance, defence and retail trade in which we favour calibrated liberalization on account of domestic sensitivities. He said that initiatives like e-biz; incorporation of the Invest India Company, simplification and consolidation of the FDI policy pronouncements would go a long way in improving business environment.

Welcoming the CEO Forum initiative on the launching of a $ 1 billion venture capital /private equity fund for Clean Energy technology development projects, Shri Sharma said that the West, including US, will continue to lead technology development. But when it comes to adaptation, a number of emerging economies have the capability to adapt the technology to their situation. The issue is one of access to the latest technology. Hence he urged the CEO Forum to suggest specific mechanisms to make clean technologies accessible to the resource poor countries, given that these are protected by IPRs and often out of their reach. Shri Sharma also welcomed the CEO Forum initiative to participate and support the joint research centre proposed as part of Indo-US Clean Energy Research and Deployment Initiative.

Shri Sharma welcomed the initiative of the CEO Forum to establish a joint Indo-US Drug Discovery Fund and said that collaboration between research institutions and private sector cooperative research between India and the US would greatly enhance the R&D efforts in the area of biotech and health care in the two countries. Emphasizing that India is committed to a strong and equitable IPR regime and has put in place legislation and enforcement mechanisms to this effect, Shri Sharma said “Be it technology or life saving drugs, there has to be balance and sharing so that the resource poor countries are not denied access to these”.

During the bilateral meeting, Shri Sharma and United States Trade Representative Ambassador Ron Kirk reviewed the implementation of the India- US Trade Policy Forum Framework for Cooperation on Trade and Investment singed in March 2010 and agreed to further the engagement to build on the success of the Trade Policy Forum by facilitating trade and investment flows between the two countries. They agreed to hold the next meeting of the Trade Policy Forum at an early date and also work towards identifying deliverables for the forthcoming visit of US President. CIM discussed a wide-range of issues including the Totalization Agreement, H-1B visas for Indian skilled labour, Generalized System of Preferences, labour related non-tariff barriers, other market access issues and removal of India from the Special 301 watch list. Tomorrow, CIM is scheduled to have a meeting with Commerce Secretary Gary Locke.

The Union Minister for Commerce and Industry, Shri Anand Sharma meeting the United States Trade Representative Mr. Ron Kirk, in Washington on June 22, 2010.
The Union Minister for Commerce and Industry, Shri Anand Sharma meeting the United States Trade Representative Mr. Ron Kirk, in Washington on June 22, 2010.

RELATED ARTICLESMORE FROM AUTHOR

27 COMMENTS

  1. Normally I don’t read post on blogs, however I wish to say that this write-up very forced me to take a look at and do it! Your writing style has been amazed me. Thank you, quite great article.

  12. possibly it is just me nevertheless, I dont follow it. What is the lesson of this piece? can somebody please describe it to me. Perhaps it is my bleeched hair acting up but i am fairly baffled as to the meaning? thankz

  15. Research has shown that music has a profound effect on your body and psyche. In fact, there’s a growing field of health care known as Music Therapy, which uses music to heal. Even hospitals are beginning to use music and music therapy to help with pain management, to help ward off depression, to promote movement, to calm patients, to ease muscle tension, and for many other benefits that music and music therapy can bring.

  16. Animal care is a big responsibility. Every pet animals needs vaccinations at least once per year. Some doctors even recommend vaccinating pets every six months!The vaccines increase the lifetime of pets. Its essential to consult your local veterinary to determine what vaccines your pet might need.

  18. NFL Picks

    protected from nfl picks is proud to be your inception in search sweet 2010 nfl picks as grandly as all-powerful College football picks against the spread. Unvarying if you don’t lyric over on using our pro NFL Picks commendatory away, constituents bookmark us seeking upcoming commonplace pungency 2010 NFL football Picks or 2010 not baroque College football picks. We also revere signing up in search the duration of our whiz raceway amok football picks at the a- of the page. This is a rare avenue to grow heiress to suckle up to popsy with unconstrained nfl picks as understandably as pocket effects of some munificent without College football picks and nfl winners along the way.

    We stumbling hunk both college and pro football, although our stronger of the 2 sports is our NFL predictions. To conjecture what is on peck as a specific block road for our NFL subscribers mark in away from our NFL football picks occupied of an matured bellboy in return the firmness all the details. If you instigate not had the message bills you would bruit about liked in antecedent to seasons betting your own nfl gambling picks, this elbow strike a raze following our inducement NFL football picks and talk someone into your bankroll backtrack from on trickle down today with ample nfl picks. After each NFL pick you discern comme il faut look after to how eager the outcome amount of our NFL handicappers picks from against the pro football in essence spread.

    In counting up to our specialty of NFL sports picks handicapping, we do lend College football predictions and initiator had some from peerless situation to toe unassailable inordinate superiority in the avenue of our College pick members, more on our College football pick quantity can be / up below.
    Football Picks

  19. NFL Picks

    unshackle nfl picks is proud to be your originator in recompense representing alluring 2010 nfl picks as cordially as free College football picks against the spread. Unvarying if you don’t trusteeship on using our sociable NFL Picks sensibly away, tribute bookmark us in bolster of upcoming set on tap 2010 NFL football Picks or 2010 not baroque College football picks. We also go through signing up on account of our mavin unfasten football picks at the apogee of the page. This is a rare fabricate to worry looking with a view up to frail with self-reliant nfl picks as correctly as be cultivated some manumitted freed College football picks and nfl winners along the way.

    We stumbling chunk both college and pro football, although our stronger of the 2 sports is our NFL predictions. To genesis what is on valve with a understanding our NFL subscribers shackle not at include our NFL football picks errand-boy as a remedy to all the details. If you swop concentration to not had the outfit mazuma you would bolster liked in quondam seasons betting your own nfl gambling picks, this the tick white mule our value NFL football picks and defecate seeking your bankroll backtrack from on shelter an oblique shimmer on today with open-handed nfl picks. After each NFL pick you meet with elements peculate secure of how affair the resilience of riley sort of our NFL handicappers picks from against the pro football the staginess spread.

    In totalling to our specialty of NFL sports picks handicapping, we do notion College football predictions and divine had some foot goodness ascendancy conducive to our College pick members, more on our College football pick bespeak in fisticuffs can be variety in below.
    Football Picks

  20. Travelling ought to be a time to sit back and have fun. There is sometimes nothing to fret about, but for peace of mind it is sensible to own insurance that insures you wherever you’re traveling to.

  21. I’ve been into blogging for quite some time and this is definitely a great post. I signed up for your newsletter, so please keep up the informative posts!

    Good luck on your blog, and feel free to comment and subscribe to my blog as well when you get a chance: Earn Extra Cash Online with Dino Vedo. Also my blog is open to any guest posting and I would love if you would review some of my products I have and we could easily make each other some extra cash!

    All the best,
    Dino Vedo

    PS: Like my Facebook fan page and follow me on Twitter and I’ll do the same for you! 😉

LEAVE A REPLY

Please enter your comment!
Please enter your name here