Thaindian News

Washington, July 28 (IANS) US Export-Import Bank Director, Diane Farrell has joined a US-India trade group as executive vice president, overseeing business advocacy and membership services in the areas of financial services, real estate and infrastructure development.

Farrell recently completed her term as director of the Ex-Im Bank, a position she held since August 2007, the US-India Business Council (USIBC) representing nearly 400 of America’s and India’s top companies doing business with India announced.

“We are delighted to have the benefit of Farrell’s experience and insight as we strengthen the United States’ economic relationship with India,” said USIBC chairman Harold McGraw III, who is also chairman, president and CEO of The McGraw Hill Companies.

“Her rich background in infrastructure, financial services, and real estate will serve our members and our country well.”

During her tenure at the US Ex-Im Bank, Farrell tirelessly promoted India as a primary market for US goods and services. The bank’s project portfolio for India is now second only to Mexico in terms of total exposure, USIBC said.

Working with her professional colleagues at the Ex-Im Bank, Farrell has approved over $5.8 billion in transactions from 2007 through April 2011 for projects located in India in the sectors of aviation, telecom, oil and gas, mining equipment, medical, IT services, and energy, including solar power.

“Recognizing the linkage between economic growth and the successful build-out of the $1 trillion-worth of infrastructure projects in India needed in the coming years, and keeping in mind the imperative to simultaneously develop the soft infrastructure of new and robust capital markets capable of funding India’s vast infrastructure requirements, USIBC could not have brought onboard to its leadership team a more capable professional and friend of India than Diane Farrell,” said USIBC president Ron Somers.

(Arun Kumar can be contacted at arun.kumar@ians.in)