New Delhi: Atul Singh, president and CEO of Coca-Cola India has been unanimously elected as the chairman of the American Chamber of Commerce (AMCHAM) in India.
This was announced in the 16th annual general meeting of AMCHAM India held at New Delhi today.
Virat Bhatia, managing director of telecom giant AT&T, along with Shyamal Mukherjee, director of Price WaterHouseCoopers (PWC) were also elected as the vice-chairman of AMCHAM India's Board of Directors.
GE India CEO T P Chopra was elected to the board for the year
The new minister of state foe telecom Jyotiraditya Scindia addressed the American business during the AMCHEM AGM today, calling for further participation of US Companies in inclusive and sustained growth of India.
Scindia said that this could only be possible by ensuring that every dollar invested was used for social reforms, irrespective of the rural – urban and income inequality divide. He also said that there was a need for India to sustain its high growth pattern over a longer period in order to maintain its economic momentum.
''The country is today experiencing approximately 8 per cent growth year over year. We need to ensure that the rate of growth is sustained over a longer period of time,'' Scindia said. Citing the US as an example, he said that the US has witnessed 3 -3.5 per cent sustained growth over last 100 years, adding that it was this compounded growth that has made the US becoming the superpower it is today.
''India should follow this strategy and ensure that the growth is sustained over a longer period and this could be possible only if economic growth travels to every nook and corner of the country,'' Scindia added.
Steven J White, US Charge d'Affairs, US Embassy said that greater market and trade access between India and US would help in accelerating the growth in the two countries. He said that increase of US investment in India by 33 per cent during the year 2007 was a step in the right direction, and it was important that similar excitement was maintained during the current year as well, especially in sectors like finance, trade, energy, education, health and agriculture.