The Hindu : National : AMCHAM for enhanced U.S., India economic exchanges

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Monday, Jul 12, 2010
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National

AMCHAM for enhanced U.S., India economic exchanges

NEW DELHI: The American Chamber of Commerce (AMCHAM) in India has announced its 2010 objective of enhancing economic and social partnership with India. Its members will collaborate with key stakeholders, including government and state agencies, to prepare an annual plan that would lead to enhanced India-U.S. bilateral economic exchanges.

“Responsible business leadership is about pursuing business interests while making a difference to India,” AMCHAM chairman Dinesh Keskar said in a statement here on Sunday.

He said the AMCHAM would also address the need for further liberalisation in several areas, including retail, alternative energy, defence production and the finance sector.

“There is a concern at the slow flow of U.S. capital to India,” he said. In the last decade, the cumulative inflow of the FDI equity by top investing countries was $114.5 billion. The U.S. FDI equity into India during the same period was only $8.219 billion.

Primary driver

AMCHAM will play a key role in addressing deeper economic engagement with the private sector as the primary driver. “Engagement and dialogue with the Indian government to re-evaluate policies and make them investor friendly will help in reaching our objectives,” said Dr. Keskar, who also heads Boeing International in India. More FDI in retail would enhance India's food distribution and security and further help control price inflation. American companies can play a significant role in India's hunt for newer fossil fuel sources. The AMCHAM India members engaged in the pursuit of non-conventional and clean energy are eager to partner with Indian firms to deepen their engagement, the statement said.

As an important pillar of economic growth, aviation has generated a lot of interest amongst U.S. companies.

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