Dear
Reader,
Greetings. The
past few months
have been packed
with events of
immense importance
for economic relations
between India
and the United
States. In November-December,
2006 it was Franklin
L Lavin, US Under
Secretary of Commerce
for International
Trade, who led
the biggest-ever
business mission,
comprising nearly
250 delegates
to India. Members
of the Mission
visited six cities,
met with scores
of their Indian
counterparts in
small, medium
and large enterprises,
resulting in proposals
for several joint
ventures. Two
months later came
US Commerce Secretary
Carlos M Gutieriez
to meet top officials
and business leaders.
His mission was
to expand bilateral
trade, with focus
more on increasing
US exports to
this country.
In his interaction
with Indian government
and business leaders
Gutierrez stressed
the need to further
open Indian markets
with a reform
agenda to attract
more investment
that could help
expedite the pace
of India's economic
growth. He was
all praise for
India's achievements.
The current issue
of Indo-US Business
highlights the
Gutierrez visit
in its cover story.
Surely, India's
esteem has gone
up in the assessment
of everyone that
mattered, including
global rating
institutions.
Recently Standard
& Poor raised
India's Sovereign
Credit Rating
to “Investment
Grade.”
An economist at
US investment
bankers Lehman
Brothers shares
this positive
view about India.
He expects India's
annual GDP growth
to touch 10 percent
in 2007-08 (April-March).
This is a clear
indication that
India is able
to sustain its
economic growth.
Precisely for
this reason, more
and more US investors
are visiting India
as part of visiting
business missions
in recent months.
The goodwill that
India has earned
in international
markets is quite
strong. Taking
advantage of this
strength, Genpact,
one of India's
largest BPO companies,
is planning to
rise $600 million
in the US market
through an IPO.
All these developments
form the current
issue's Focus
section. In the
recent past, Indian
companies have
created corporate
history through
massive acquisitions
of foreign firms.
Hindalco, one
of Aditya Birla
group's prized
corporate entity
producing aluminium,
acquired the US
firm Novelis,
a world leader
in aluminium rolled
products, for
$6 billion. We
report it as a
great success
story. Along with
pharmaceuticals,
India has taken
great strides
in biotech and
life sciences
sectors. We carry
two articles,
one on Biocon's
research pact
with a US company
and the other
on Jupiter Biosciences
setting up a peptide
plant in the US.
Then we have plenty
of corporate news
followed by news
of various events
and activities
of different branches
of Indo-American
Chambers of Commerce.
Besides all these,
we carry other
regular features
as usual.
Wish you happy
reading
Satya Swaroop
Managing Editor
satya@newmediacomm.biz
