Corporate America urges Obama administration to embrace India

Corporate America urges Obama administration to embrace India

Washington: As India’s top Cabinet ministers and industry leaders landed in Washington for crucial talks with their United States (US) counterparts in Washington, corporate America on Wednesday urged the Obama administration to embrace India as a knowledge partner.

“India’s leadership has arrived in the US this week. American business and government officials should reach out and remind them of the promise of the US-India partnership - a close friendship that will shape the economic destiny of the 21st Century," said Ron Somers, the president of the US-India Business Council.

“We must embrace India as our knowledge partner by endorsing movement of technical professionals, an activity essential to our common, bright future," he said. “Acknowledging that American companies can more effectively compete on the world stage by teaming with their Indian counterparts is a smart way to start this constructive conversation.

“Such knowledge partnering will propel growth, enabling our companies to maintain their primacy. A ‘win-win’ dynamic of job creation will accrue to both sides," Somers said.

Somers reminded the American leadership that India is implementing bilateral trade agreements with several countries, which would result in lost opportunities for US firms unless steps were taken.

“A deal with Japan went into force in August. South Korea and Singapore, too, have executed agreements with India, while negotiations with Australia, Canada, and New Zealand continue. An expansion of an agreement with the Association of Southeast Asian Nations (ASEAN) is in the offing. Never to be accused of thinking small, India is pressing ahead to negotiate an free trade area (FTA) with Europe. The point - India’s trade agenda is really on the move," he said.