CII moots doubling Indian investments in the US

The CII CEOs' delegation, which left for the US yesterday, aims to strengthen India-US bilateral ties; augmenting economic and commercial cooperation between the two countries to newer heights and to evolve innovative ways to collaborate on global economic challenges.

"Today Indian investments into the US stand at around $4 billion," Kamath said and added that India had enormous scope to indcrese its engaement wih the US through greater investments in the country.

CII's annual visit would strive to identify areas for doubling Indian investments in the US in the next few years.

Coinciding with the visit of the CEOs delegation, on the first day of the visit CII and The Asia Society is organising a day-long conference on Indian Financial Markets III" at New York. The conference aims to discuss the development of Indian financial markets, real estate, regulation, banking and long-term investments funds with eminent business leaders from in the US.

The conference will be addressed by C B Bhave, chairman, Securities and Exchange Board of India, Sanjay Gupta, chief marketing officer, Bharti Airtel Ltd, Rajiv B Lall, managing director ansd CEO, IDFC Ltd.

The delegation is also scheduled to meet with former US secretary of state Dr Henry Kissinger in New York to seek his influence in taking India-US ties to a higher level of interaction, both political and economic. Dr kisinger as President Richard Nixon's secretaty of state was responsible for opening Chinese engagement with the US in the '70s.

While in Washington, the CEOs delegation will also meet with Indian ambassador Ronen Sen, key officials from US Administration, senators and congressmen and leaders from leading US think tanks. The delegation will also address leaders from industry, government, academia, and the press at a business event, jointly organised by CII and the US India Business Council, which is an institutional partner of CII in US.

CII plans to leverage the commitment fo the political leadership in both countries to enhancing bilateral relationship between the countries and through the 'next steps in strategic partnership' initiated by President George Bush and Prime Minister Dr Manmohan Singh in 2005.

Trade between the two countries has increased approximately 190  per cent from $14.4 billion in 2002 to $41.6 billion in 2007, along with an increased investment flow between both countries.

Indian investments in the US have witnessed major growth in last three years contributing to economic growth and creating employment opportunities there.

The CII CEOs mission comprises, Jignesh Shah, chairman and CEO, Financial Technologies Ltd, Harpal Singh, chairman, Ranbaxy Laboratories Ltd, Rajan Navani, managing director, Jetline group of companies, Syamal Gupta, chairman, TATA International, Hari Bhartia, vice chairman and managing director, Jubilant Organosys Ltd, Gopal Srinivasan, chairman and managing director, TVS Capital Funds Ltd, and Chandrajit Banerjee, director general, CII.