India Business Forum
launched in New York

Kamal Nath calls
for setting up of
Trade Promotion
Council in US

Minister for Commerce & Industry Kamal Nath inaugurated a new, broad-based organization called 'India Business Forum' on June 23, 2006 in New York to further boost bilateral trade and economic relations between India and the United States. Structured at the initiative of the Confederation of Indian Industries (CII), the Forum comprised 51 organizations and corporations which participated in the event, hosted by the Consulate General of India, New York.
Addressing the Forum, Kamal Nath lauded the efforts of CII to organize the event comprising “Companies of Indian Origin operating globally” and called for establishment of a Trade Promotion Council in the US. He made this observation while commending the role played by the Indian
Missions in trade promotion abroad.
Kamalnath said the India Business Forum could facilitate a dialogue within the business community and create channels for communications with the Indian government and other relevant agencies. He said Indian companies were generating jobs in countries such as US and UK, thereby sharing their success with the communities worldwide.
Kamal Nath said a facilitation cell would be set up in the Ministry of Commerce and Industry to coordinate events that strengthen dialogue between the Indian government and Indian firms abroad. He described the role of Government as facilitator and enabler and emphasized the need to plan future meetings and open discussions on challenges faced by Indian companies.
In her opening remarks, Consul General Ms. Neelam Deo welcomed the creation of the Forum and said that such an initiative would add to the momentum of economic reform process ongoing in India. Tarun Das, Chief Mentor CII, expressed the hope for further expansion of the Forum. Ambassador of India to the US, Ronen Sen, who was also present on the occasion, recalled a number of initiatives in the area of trade and commerce in his previous assignments which had boosted bilateral relations. He commended the initiative and urged regular frequent meetings of the Forum. David Good, the American Chair of the India Business Form and Chief Representative-North America, Tata Group, highlighted the collective contributions of various Indian companies to the American economy, including job creation.
Corporate participants of the Forum talked about the profile of their companies and shared their concerns and thoughts on how government and industry can work together to address business challenges.
Later at a reception hosted by the Indian American Council in the evening Kamal Nath reiterated the Indian Government's commitment to promote entrepreneurial growth.
Referring to the dramatic changes in India the Minister emphasized the role of persons of Indian origin and said that the all inclusive growth was India's biggest challenge and the government's objective. He said that the institutional mechanism such as IAC imparted a strategic dimension to the process of engagement between the Indian Government and Persons of Indian Origin (PIOs).
Kamal Nath described the ongoing reforms process in India as country-specific and expressed confidence that reforms would continue to add momentum to economic growth.
Chairman of the Indian American Council, Sam Pitroda, who also heads the Knowledge Commission, outlined the objectives of the Council for its work in bringing the business communities and the people together.