CII CEOs delegation to US 

A series of meetings with economic think tanks, key government department officials, congressmen and industry would feature during the visit of the Sanjiv Goenka, President, CII with a high level CEOs mission to US between 6th and 8th June.

Although business delegations to the US have been a common feature over the years, this visit comes at an important juncture. On one hand is the increasing importance being accorded to economic ties, spanning trade and investments, with India and on the other are the prospects of a slowdown in the US economy. 

On the bilateral trade front the slow decline in merchandise trade between the US and India witnessed in the first quarter would be a key issue in the discussions with both industry as well as government officials. There is a perception in US industry, strengthened by the recent widening of trade balance from $5.4 billion in 1999 to $7.0 billion in 2000 in India's favor, that the Indian market is restrictive and regulated. 

Dispelling this perception as well as apprising industry and policy makers of the increasingly liberal trade and investment policy environment would be on the delegation's agenda. The delegation is also scheduled to meet senior members of the International Finance Corporation, Export Import Bank of the US, among others to explore innovative tools for facilitating Indo-US trade. 

The prospects for investments on the hand are expected to improve significantly as the US Department of Commerce in its 'Country Commercial Guide for the Financial Year 2001 for India' has viewed India's economy as fundamentally sound, especially with the emergence of 'new economy' sectors. 

The 15 industry sectors identified for potential investments in India for US firms include computer software and services, telecom services, telecom equipment, computers and peripherals, pollution control equipment, oil and gas machinery, medical equipment, and chemicals and petrochemicals. And also include the food processing and packaging equipment, biotechnology, power transmission and distribution systems, airport and ground support equipment, water resources, air-conditioning and refrigeration equipment and agricultural chemicals. 

At the meetings with Indian entrepreneurs in the technology sector, on the other hand, the delegation would try to gauge the current trends and the need for aggressively marketing India as an outsourcing destination. The objective would be to evolve mutually beneficial strategies for the IT sector. 

To get an objective perspective on India's economic prospects and business opportunities, CII and Brookings Institute are jointly organizing a panel discussion on 'Prospects for, and Implications of, Rapid Economic Growth in India' during this US mission. 

The delegation includes Arun Bharat Ram, Immediate Past President, CII and Vice Chairman and Sr. MD SRF Ltd; Subroto Bagchi, VC and President - Americas, Mind Tree Consulting Pvt. Ltd; YC Deveshwar, Chairman, ITC Ltd; Jagdish Khattar, MD, Maruti Udyog Ltd and Tarun Das, Director General, CII and Chairman, ACC Ltd.