USIBC Hosts U.S. Trade Representative Michael Froman
November 24, 2014 - New Delhi, India - The U.S.-India Business Council (USIBC) and AMCHAM today hosted U.S. Trade Ambassador Michael Froman and U.S. Chargé d'Affaires in India, Amb. Kathleen Stephens on the eve of the Trade Policy Forum, which is being conducted after a four-year hiatus. The U.S.-India Trade Policy Forum (TPF) is a government-to-government trade dialogue aimed at increasing bilateral investment between the two nations.
During the discussion, Ambassador Froman highlighted how the two nations were working together on building personal, bilateral and business relationships. Following Prime Minister Narendra Modi’s visit, both nations view the bilateral relationship with much enthusiasm, including today’s discussion highlighting concrete steps that can be taken to promote investment in the Indian economy.
With broad representation across USIBC’s diverse membership base of 300+ companies, the discussion encompassed sectors including pharmaceuticals, finance, food and agriculture, communications and technology and defense. Covering a wide gamut, key issues focused on improving the business climate including encouraging a multi-stakeholder approach, predictability, transparency and consistency. The discussion acknowledged the positive environment and the new governments’ attitude to engage coupled with recently announced opportunities like, “ Make in India”, “Digital India” and “Skill India”.
USIBC (Acting) President Diane Farrell added, “Resumption of the Trade Policy Forum represents another important step towards strengthened trade relations between the U.S. and India. Ambassador Froman and Minister Sitharaman will be tackling challenging issues. It is precisely this type of dialogue that enables problems to be addressed openly and frankly and where we hope, consensus and compromise can be achieved”.
Today’s event is the last of several events that USIBC had hosted over the last week including the India-U.S. Technology Summit, the meeting of the U.S.-India High Technology Cooperation Group, the U.S.-India Smart Cities Conclave and an MoU signing with the National Skills Development Corporation.
Formed in 1975 at the request of the U.S. and Indian governments, the U.S.-India Business Council (USIBC) is the premier business advocacy organization advancing U.S.-India commercial ties. Today, USIBC is the largest bilateral trade association in the United States, with liaison presence in New York, Silicon Valley, and New Delhi, comprised of 310 of the top-tier U.S. and Indian companies. The Chairman of USIBC is Ajay Banga, President and CEO, MasterCard.