Nooyi moots US-India Investment treaty

Nooyi moots US-India Investment treaty

New Delhi: Outlining a three-point agenda for taking Indo-U.S. ties to a new level, Indra K Nooyi,chairman, Pepsico and chairman U.S-India Business Council (USIBC) said that inclusive growth, investment in education and health, and boosting infrastructure should drive the agenda for industry in both the countries.

Addressing a special roundtable on ‘A Fresh Beginning: U.S-India Relations’ and ‘The Third Wave of Investment & Reforms here today, the Pepsico chairman mooted a bilateral investment treaty between the two countries to give a new impetus to trade relations which would in turn lead to the creation of more jobs and opportunities in both the countries.

She talked of the need to have policies that encourage investment in rural areas, provide vocational skill-building and training that will increase the capacity of the entire system, from primary schools to colleges and post-graduate institutions.

According to her,inclusive growth could be achieved through agrarian reforms. Infrastructure to widen the markets for the country’s agriculture produce was imperative. “It pains me that nearly 40% of India’s harvest—of nearly every crop—gets damaged before it reaches the marketplace," she added.

USIBC committed to continue looking for further openings in banking, insurance and pensions. Other areas where Indian and U.S industry could join hands were power, roads, clean water, ports, airports and even the defence sector.

Kapil Sibal, minister for Science & Technology and Earth Sciences who was also present at the CII organized round table, pointed out that the time was right for the two nations to take their partnership to a new level and to ensure that future decisions be influenced by climate change and energy security.

He said that ‘think locally, act locally’ should become the new mantra for investors seeking to tap the vast Indian market and there being a mixture of affordable and sophisticated technology, ecological balance and investment for sustaining high growth.