Initiative to show Indian firms boost American jobs

June 11th, 2008 - 12:27 pm ICT by IANS  

By Arun Kumar
Washington, June 11 (IANS) A leading business advocacy group seeking stronger commercial ties between India and the US is launching a key initiative aiming to show that Indian companies operating in the US boost American jobs. Called “Investing in America: The Indian Story” the US-India Business Council (USIBC) initiative will be launched June 13 at the Hotel Taj Boston with a keynote address by India’s Minister of Science and Technology Kapil Sibal.

Outward bound Indian investment to the US and elsewhere is expected to top $25 billion in 2008, said the advocacy group which is currently headed by India-born Pepsico chairperson, Indira Nooyi.

“This investment brings a new dimension to relations between the world’s largest democracies,” it added.

The “Investing in America” initiative will showcase the positive contributions made by Indian companies to the US economy, from the boosting of American jobs, to best management practices exchanges between US and Indian managers, to innovative new business strategies undertaken by Indian companies operating in America.

“USIBC is proud to showcase the ‘Investing in America’ initiative. It is important that we raise awareness about the themes of increasing economic development in this country by creating a conducive environment in the US for Indian investment,” said USIBC president Ron Somers.

“We welcome good corporate citizens who want to participate in building prosperity for all.”

Amit Mitra, secretary general of the Federation of Indian Chambers of Commerce and Industry (Ficci), will also participate in the initiative.

“We are proud of the increasingly important role being played by Indian companies in building prosperity in the United States. I look forward to working with our American colleagues and increasing ties between these great democracies,” Mitra said.

David Good, former US Consul General in Mumbai, and now chief representative for the Indian firm Tata and Sons, will present a case study concerning Tata investments in America.

These investments range from hotels in Boston to tea companies in California that employ Americans. Other companies that will be highlighted are Ranbaxy Laboratories, HCL Technologies, Mahindra USA, Satyam Computer Systems, Essar Group, Wockhardt USA, Thermax, ITC Group, Bharat Forge America, Kotak Mahindra and Jet Airways.

The Boston event will follow the Global Partnership Summit in Washington, another programme organised by USIBC to mark its 33rd anniversary.

Commerce and Industry Minister Kamal Nath is slated to attend the Washington event with TV show host Charlie Rose presenting a session with him on theme of “India in the 21st Century - A Partner in Free-market Democracy”.

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