Dear
Reader,
Greetings. Financial
markets in advanced
countries are
passing through
tough times. The
problem has emanated
from the US and
percolated down
to Europe. The
emerging economies
such as India
are less affected
because of buoyant
domestic demand.
But India will
be hit in the
long run because
the US and Europe
continue to be
the ultimate export
destinations for
the country's
products. It is
in this context
that Indian Finance
Minister P. Chidambaram,
called upon the
International
Monetary Fund
(IMF), during
its annual spring
meetings in Washington,
to revamp and
refocus its action
policies. The
Indo-US Business,
which keeps a
close watch on
the US economy
and the implications
of its impact
on the global
scenario as whole,
carries in its
cover story of
the current issue,
the full text
of Chidambaram's
speech. Of late,
there has been
a hue and cry
about the global
shortage of food
and some countries,
such as India,
have become targets
of criticism because
of their policies
of restricting
food exports.
The gravity of
the situation
called for a global
debate. The Food
and Agricultural
Organization (FAO),
United Nations
Industrial Development
Organization (UNIDO),
and the International
Fund for Agricultural
Development have
jointly organized
a global conference
in New Delhi recently,
where Prime Minister
Manmohan Singh
called for a quantum
leap in yields
as an answer to
the global food
crisis. We carry
a report. Indo-American
Chamber of Commerce
(IACC), and its
various chapters
across the country
have been relentlessly
pursuing various
activities for
boosting bilateral
trade between
India and the
US. We highlight
a seminar on Indo-US
Aviation Cooperation
and the opportunities
that such an alliance
could throw up
for business communities
of both countries.
Entertainment
is one area in
which Indo-US
cooperation is
getting intensified
year after year.
This year, IACC
mounted the biggest-ever
delegation to
the NABShow 2008,
an annual event
organized by the
National Association
of Broadcasters
of the United
States in Las
Vegas in April.
We carry a report.
Promotion of tourism
in India has always
been a government
responsibility.
But the government
of the northeastern
state of Assam
plans to involve
private sector
to promote tourism,
especially eco
tourism. We run
an interview with
the State Tourism
Minister Rockybul
Hussain. In another
interview, Pradip
Chopra, head of
the PS Group that
built scores of
landmark buildings
in Kolkata asserts
that India has
the potential
to become a global
economic power.
We carry plenty
of Chamber (IACC)
news, besides
the latest developments
in the corporate
world which have
further widened
the scope for
Indo-US bilateral
trade.
Wish you happy
reading
Satya
Swaroop
Managing Editor
satya@newmediacomm.biz
