My greetings to you all

It is, indeed, a happy co-incidence that I am taking over as the President of IACC at a time when the Indo-US economic relations are at an all time high. India has become a hot destination for foreign investors riding on the back of its continental market size, capacity to absorb state of the art technologies and sustained economic growth well over 8 per cent. Equally significant are the strides India Inc is making to globalize its operations. For the last five years or so, India Inc's investment abroad has aggregated to USD 7 billion. Indians are taking over global corporations with a clear-cut objective to emerge as strong players. Examples abound in fields like steel, pharma, foundry, IT etc. This is a remarkable feat, which have very few parallels in the developing world.

IACC recognizes that it has to play a qualitatively different role in the changed environment. A very important responsibility has been cast on us because US still continues to be the largest trading and investment partner. It is equally true that US is the hottest destination for the emerging Indian global investors. We have to create innovative concepts, ideas and frameworks to facilitate two-way trade and investment. New areas for co-operation have to be identified, new business models have to be propagated, business to business (B2B) interface have to be strengthened and importantly, both the Administrations and businesses have to be sensitized about the emerging opportunities and concerns of the industry.

We will unfold a series of innovative measures to position us the most proactive platform to take the Indo-US Relations to a higher orbit of growth. We propose to create intellectual inputs for policy makers and businesses to discern the growth potentials and challenges in areas like manufacturing, agriculture, education, textiles, aviation, real estates, infrastructure etc in consultation with world renowned consulting firms and experts.

Hand-holding of Indian and US businesses particularly the small and medium enterprises will be an important plank of our activities. New paradigms have to be created for business-to-business interfaces, which can result in building sustained business relationships. We are in the process of appointing an experienced trade expert to spearhead that task. To bring out an image makeover, we are zeroing in a PR Agency with a pan-Indian presence to ensure wider media exposure not only in metros but also in stations where IACC has the presence.

Our signature event India -US Economic Summit will hold its fourth edition during my tenure. We are brainstorming about the innovative packages, knowledge and business contents that have to be built into the Summit to reflect the aspirations of the businesses of both the countries.

I am fortunate in inheriting a system, which has been continuously embellished, by our past presidents and the executive committee. Yet, we have to become ever futuristic chasing always newer ideas and concepts to make this august body a dynamic powerhouse of ideas and actions. I shall try my best to translate our collective vision into achievable realms. With your able support and guidance, I am confident that I can make a humble effort.