NEW DELHI--(BUSINESS WIRE)--The U.S.-India Business Council (USIBC) lauded the 5th U.S.-India Strategic Dialogue which set the tone for improved strategic and economic relations at a pivotal point in the bilateral partnership.
The Strategic Dialogue inaugurated formal discussions between the Obama administration and the newly elected Narendra Modi led Government in India. Areas of focus that both Governments committed to in the Joint Statement, released by U.S. Secretary of State John Kerry and External Affairs Minister of India Sushma Swaraj, included infrastructure investment, manufacturing, skills development, energy, security, and defense cooperation.
The Joint Statement emphasized manufacturing and infrastructure investment. USIBC has proposed to work closely with both Governments on initiatives including development of a U.S.-led consortium towards building smart cities in India.
"It is heartening to see that despite divergent views on certain issues, there is a sincere commitment towards the renewed bilateral strategic partnership," said Diane Farrell, USIBC Acting President. “Industry is pleased by the positive momentum provided by these talks in the lead up to Prime Minister Modi's visit to the United States in September.”
Hours after the conclusion of the 5th U.S.-India Strategic Dialogue, USIBC hosted a high level industry debrief with Nisha Biswal, Assistant Secretary of State for South and Central Asia, U.S. Department of State, and Vikram Doraiswami, Joint Secretary, Ministry of External Affairs, Government of India, joined by U.S. Chargé d’Affaires Ambassador Kathleen Stephens.
Farrell commended both Governments on their tireless commitment to the dialogue process. “Strengthening strategic and economic ties enables a better business environment, creating jobs and growth for both countries,” she said.
Formed in 1975 at the request of the U.S. and Indian governments, the U.S.-India Business Council (USIBC) is the premier business advocacy organization advancing U.S.-India commercial ties. Today, USIBC is the largest bilateral trade association in the United States, with liaison presence in New York, Silicon Valley, and New Delhi, comprised of 300 of the top-tier U.S. and Indian companies. Ajay Banga, President & CEO of MasterCard, is USIBC's Chairman.