USIBC Encourages Progress, Not Politics

WASHINGTON--(BUSINESS WIRE)--India's vibrant democracy was on display today when the U.S.-India Business Council (USIBC) hosted Mr. Manish Tewari, Member of Parliament (Lok Sabha) & National Spokesperson of the Indian National Congress (INC), and Mr. Rajiv Pratap Rudy, Member of Parliament (Rajya Sabha) & National Spokesperson for the Bhartiya Janata Party (BJP), for a lively discussion on the current state of affairs in India and the recently announced “big bang” reforms, including the opening of multi-brand retail to 51% foreign direct investment.

“Last week's reforms will help the government in tackling inflation, create millions of jobs for India’s massive youth population, and give India's economy a much needed boost. The investment in the critical backend infrastructure will directly benefit the farmers and ultimately the Indian consumer, who will enjoy improved quality and lower prices.”

During the candid conversation, USIBC encouraged the parties’ leaders to work together and not allow politics to hamper the implementation of the progressive reforms.

“Now is the time for cooperation and action,” said USIBC President Ron Somers. “Last week's reforms will help the government in tackling inflation, create millions of jobs for India’s massive youth population, and give India's economy a much needed boost. The investment in the critical backend infrastructure will directly benefit the farmers and ultimately the Indian consumer, who will enjoy improved quality and lower prices.”

Mr. Tewari and Mr. Rudy were joined by Mr. Sunjoy Joshi, Director, Observer Research Foundation (ORF), and the colloquy was moderated by Mr. Nelson Cunningham, USIBC Board of Director, and Managing Partner, McLarty Associates.

The U.S.-India Business Council (USIBC) is the premier business advocacy organization formed by the U.S. and Indian governments in 1975 whose purpose is to deepen two-way trade and strengthen commercial ties. Today, USIBC is comprised of 350 top-tier U.S. and Indian companies. Ajay Banga serves as Chairman of USIBC’s Board of Directors. Mr. Banga is President & CEO of MasterCard Worldwide.

www.usibc.com