Press Release- Discussion on ‘U.S- India Relations: The Road Ahead’ organized by East-West Center

Washington, DC
June 23, 2009 

The East- West Center in Washington DC organized a discussion today on the theme ‘U.S- India Relations: The Road Ahead’ in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI) where Ambassador Meera Shankar was a special invitee. 

Ambassador Shankar released a study by FICCI: ‘India Contributes to Employment, Capital Growth and Tax Revenues in the US – Direct Investment by Indian companies in 2007-2009’. The study prepared by Ernst & Young analyzes data for financial years, 2007-08 and 2008-09. Its finding is that Indian companies made 143 acquisitions across various sectors in the US; with the total value in excess of $ 5 billion.

Speaking on the occasion, Ambassador Shankar described the transformation that the India - US bilateral relationship had witnessed in recent years and highlighted the complementarities and convergences in the relationship. She said that the India - US bilateral relationship was at an important juncture with both countries committed to taking this relationship to a new level. 

She said that the US being the largest economy in the world was naturally a key economic partner for India. She pointed out the growing two-way investment between both countries. She urged US companies to take advantage of the huge infrastructure development programme that the Government of India proposes to undertake during the next few years and emphasized the need for more engagement in various sectors including education, healthcare and high technology. 

President of FICCI Mr. Harsh Pati Singhania and its Secretary General Dr. Amit Mitra also spoke about the developing economic ties between India and the United States and the numerous opportunities for further cooperation.