Thaindian News

Washington, June 23 (ANI): Minister for Commerce and Industry Anand Sharma led an official delegation for the second meeting of the reconstituted US-India CEO Forum here on Tuesday.

The meeting was co-chaired by Ratan Tata, Chairman, TATA Group from the Indian side and Dave Cote, CEO, Honeywell Inc., from the US side.

The CEOs from the two countries discussed opportunities for new partnerships between businesses in the United States and India, and ways to promote investment and job growth in both countries.

During the interactions, Sharma said: “We are in the process of conceptualizing National Manufacturing Investment Zones as integrated industrial townships with state-of-art infrastructure and complete eco-system for manufacturing industry.”

“This mechanism is being developed in response to the concerns on availability of developed land, infrastructure and other services for industry. A discussion paper has been placed on the website of the Department for wide-ranging consultations on this initiative,” he added.

In response to a suggestion for reduction in Indian import duties on security technologies and products, he explained that 100 percent FDI is permitted under automatic route for manufacture of such equipment in India for non-defence application.

Welcoming the CEO Forum initiative on the launching of a billion dollars venture capital /private equity fund for Clean Energy technology development projects, Sharma said that the West, including US, will continue to lead technology development.

Sharma also welcomed the CEO Forum initiative to participate and support the joint research centre proposed as part of Indo-US Clean Energy Research and Deployment Initiative. (ANI)