New Delhi: A high-powered FICCI business delegation led by FICCI President, Pankaj R Patel, Zydus Cadila, Chairman and Managing Director of Cadila Healthcare Ltd, is accompanying Finance Minister Arun Jaitley to United States from 20th – 24th April 2017 to enhance the bilateral economic engagement and boost cooperation between Indian and US..
This FICCI initiative is timed suitably as the new administration under the leadership of President Donald Trump is formulating newer policies with particular focus on bilateral treaties and will give the visiting delegation a chance to share with officials from the new US administration perspective on the robust business ties between India and US.
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The visit by the FICCI delegation to US also comes at a time when India has recovered from short term impact of demonetization and experiencing a robust economic growth, contained inflation, low current account deficit and adherence to fiscal recovery path that have projected her as an outpost of opportunity for global investors. Both countries over the recent past have been expanding spheres of collaboration that has evolved into a strategic and global partnership.
While these positives add a favourable backdrop to the FICCI delegation, the importance of the visit is underlined by a series of significant meetings which are expected to set the pace for an intensified dialogue between businesses on both sides. Prominent among these engagements are the meeting with Institutional Investors and a luncheon meeting with Long Term Investors on 24th April 2017 being organised by FICCI with Citibank and Goldman Sachs respectively. The meetings would be addressed by the Hon’ble Finance Minster Mr. Arun Jaitley. The meetings will involve interaction with banks, investment funds, asset management companies and institutional investors looking to expand their presence in India as well as discussion regarding long-term investment opportunities in India.
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“This visit will give CEOs a good opportunity to talk about programs such as Make in India, Digital India, Smart Cities, Skill India and Start-Up India. In each of these areas, US companies are contributing a lot and their favourable experience can be a benchmark for success for others to follow”, said Pankaj Patel, President, FICCI.
During the visit, FICCI team also proposes to take up with senior officials of US government as well as business counterparts some of the pressing issues that seem to be hindering the two sides to fully capture the true potential on offer. This list includes areas such as the issuance of H1B visas that are of great importance to the Indian IT sector and our professionals.
“We will use this opportunity to drive home the point of the kind of contribution Indian companies are making to the US economy and how a more open business environment can help both sides,” Patel added.
The FICCI delegation will also attend a meeting with Mr. George David Banks, Special Assistant to the President for International Energy and Environment and Mr. Mathew Haarsager, Special Assistant to the President for Global Economics and Finance.