InfoAnda - U.S.-India CEO Forum Discusses Bilateral Ties Sans Bhopal Gas Tragedy

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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel News Articles U.S.-India CEO Forum Discusses Bilateral Ties Sans Bhopal Gas Tragedy Email Facebook Digg Twitter Buzz Up! ShareThis June 23, 2010 5:05 a.m. EST Topics: politics, international (foreign) trade, business enterprises, diplomacy, macro economics, economy, business and finance, peace negotiations, United States Tejinder Singh - AHN News Correspondent Washington, DC, United States (AHN) - U.S. Secretary of State Hillary Clinton on Tuesday opened the U.S.-India CEO Forum at the State Department to foster a stronger strategic partnership with India following the recent successful U.S.-India Strategic Dialogue, according to the State Department spokesman P J Crowley. During his daily briefing, Crowley told journalists that the Secretary speaking at the Foggy Bottom headquarters of the State Department, highlighted the important role that the CEO Forum plays in U.S. and India’s partnership. “The Forum is a true public-private endeavor to enhance bilateral trade and investment. It reflects one of the most dynamic aspects of our mutual cooperation, the ever-increasing economic, social, and innovation linkages that exist between the people of the United States and the people of India,” Crowley noted. Clinton told her audience Washington and New Delhi need to catch up with the businesses cooperation between the countries. Referring to the recently released study reports, Clinton said the Indian investment in the U.S. since 2004 grew by an estimated 60%, Indian acquisitions have supported approximately 40,000 jobs and manufacturing export to India led to about generation of 96,000 jobs in the U.S. The study 'How America Benefits from Economic Engagement with India', released last week, comes on the heels of President Obama ending tax incentives to U.S. companies that move jobs outside the country. Clinton further noted that both President (Barack) Obama and Prime Minister (Manmohan) Singh had said numerous times over the past 16 months that Indo - U.S. cooperation is the cornerstone of the 21st century global partnership. Clinton earlier, met with visiting Indian team led by Indian Finance Minister Pranab Mukherjee along with Commerce Minister Ananda Sharma, Deputy Chairman of Planning Commission Montek Singh Ahluwalia and discussed a wide range of bilateral issues, including trade, investment, and other economic matters, Crowley disclosed. "Our ultimate aim is to make India a vibrant economy that attracts global capital and trade ... In fulfilling this objective all of you have a role to play," Mukherjee said in his remarks Underlining the importance of ties with the U.S., Mukherjee said as India pursued its developmental goals, it would like to work with the U.S., especially where its priorities converge to the mutual benefit. "We have a unique advantage, which is the existence of strongest possible people-to-people linkages that any bilateral strategic partnership could wish for," he added. The luncheon meeting was preceded by a nearly two-hour meeting of the Indo-U.S. CEO Forum, co-chaired by the Tata Sons chairman, Ratan Tata, and David Cote, chairman of fortune 500 Honeywell. According to an Indian Embassy communique, the CEO Forum recommendations "included some interesting and ambitious ideas such as creation of an Infrastructure Debt Fund of $10 billion for development of infrastructure in India, collaboration under the National Solar Mission of India, a long term initiative on diabetes research and treatment, linkages between educational institutions and joint research in clean energy, including bio-fuels." While Tata heads the 12 member Indian delegation to the CEO Forum, Cote leads the U.S. side. There was no mention of the lengthening shadows of the aftermath of the 1984 Bhopal gas tragedy, which killed thousands and there are still tens of thousands suffering today. Ironically, the year 1984 got mentioned by the Indian Ambassador Meera Shankar while introducing Mukherjee at a meeting organized by the Institute of International Finances (IIF) on Monday. Ambassador Shankar was referring to 1984 as the year, Mukherjee was hailed as one of the five best finance ministers in the world but there was no mention of Bhopal tragedy that happened in the same year - 1984. In Delhi, a group of Indian ministers meeting under “Group of Ministers” recommended that the government make efforts to extradite former Union Carbide chief Warren Anderson and pursue an acknowledgment of liability from Dow, which purchased Union Carbide in 2001. To a question on the subject of extradition of Anderson, Crowley on Monday reiterated his oft-repeated answer to the journalists saying: “As I’ve said many times from the podium, those requests are confidential, but if we do receive one, we will give it every consideration.” The American members of the CEOs Forum are the Citi Groups CEO Vikram Pandit and Indra Nooyi of Pepsico, Louis Chênevert from United Technologies, Mike Splinter of Applied Materials; Andrew Liveris of Dow Chemicals; Jamie Dimon of the J P Morgan Chase; Terry McGraw III of the McGrow Hill; Charles O Holliday Jr of Dupont; and Paul Jacobs of Qualcumm. Indian corporate leaders in the CEO Forum include Sunil Bharati Mittal, chairman and CEO of Bharti Enterprise; SBI chairman, O P Bhatt; Venu Srinivisan of the TVS Motors; S Gopalarishnan from Infosys; Chanda Kochhar MD & CEO of ICICI Bank; Preetha Reddy MD of Apollo Hospitals; Reliance’s Mukesh Ambani; Biocon chairman & MD Kiran Mazumdar Shaw; Analjit Singh of Max India; Deepak Parikh from HDFC and Ashok Ganguly, chairman of the Firtssource Solutions Limited and ABP Private Limited. Dow Chairman Andrew Liveris along with the U.S. Vice President Joe Biden, on Monday, attended a ground-breaking ceremony in MIdland, Michigan, for a factory but backed out of the CEO forum due to “a prior engagement,” cited by his company spokesperson. Dow Kokam with an Indian-American CEO Ravi Shanker received a $161 million Recovery Act advanced battery grant from the U.S. Department of Energy. Copyright © 2003 - 2010 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. 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