Page 16 - IACC Newsletter March-April 2014 Issue 03

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North India Council
Indo-US Economic Summit: Convergence and Connectivity in Indo-US Economic Relations, on
October 15-16, 2014, in New Delhi
The Indo-American Chamber of Commerce (IACC) hosted its decennial edition of the Indo-US Economic Summit in New
Delhi on October 15-16, 2014. This year’s theme “Convergence and Connectivity in Indo-US Economic Relations”, was a
natural progression from last year’s topic “Indo-US Resurgence Summit: A Search for Innovative Strategies”, as it took
forward the momentumset in our bilateral dialogue. The Summit continued to prove its relevanceas a significant platform
for deliberations on Indo-US strategic, economic, trade and business relations.
Focusing on this year’s Summit theme, Dr. Lalit Bhasin, Regional Presi dent, IACC and Summit Chairperson said that a
special emphasis had been imparted towards promotion of our engagement in the Services sector, a sector that surpassed
any other in terms of its contribution and potential in defining our overall trade contours . In his welcomeaddress, he cited
the meeting of Honorable Prime Minister Mr. Narendra Modi and President Barack Obama as a historic and defining
moment in Indo-US relations. He further added that the IACC Forum remained aligned with the efforts of our
Governments and Industries in bridging the Indo-US gap for future growth, continuously engaging a strong membership
base of 2100 large, medium and small companies from India and the US across 11 offices pan India.
Mr. Asoke Laha, National President, IACC, reiteratedDr. Bhasin’s comment and said that in the upcoming year, IACCwould
continue to contribute in the facilitation of Indo-US trade by providing policy inputs and industry insights, particularly in
sectors such as aviation and defense, manufacturing, services, skill development, hospitality and tourism, and
infrastructure. Effectively engaging SMEs was also a priority for IACC, SMEs being an influential and crucial segment of the
industry that was having an increasing impact on the global economy. The Chamber was looking forward to engage with
this group in both the countries and generating ideas to enhance the bilateral cooperation.
The two-day EconomicSummit had a lineup of leading experts in fields of IT and Cyber Security, Aviation, Education and
Skill Development, Hospitality and Tourism, e-commerce, Media & Entertainment, International Trade and Services. Mr.
George Sibley, Acting Deputy Chief of Mission, US Embassy was the Chief Guest and delivered his special address at the
Inaugural session. Mr. Sibley suggested that while the PM and the President had come up with a joint statement that
highlighted key issues of interest for both India and the US; for the success of this partnership, it was pertinent that the
two countries recognized each other’s ‘worth’ in this joint relationship andwork cooperatively towards the shared ‘vision’
of “Chalein Saath Saath: Forward Together We Go”.
During the inaugural, Mr. George Sibley released a white paper jointly carried by IACC and the Summit’s Knowledge
Partner, Kochhar& Co. This paper covers a wide range of topical issues, whichwere also discussed over the course of the
two days of the Summit. Mr. Pratyush Kumar, Regional Vice President, IACC-NIC, and President Boeing India and Vice
President Boeing International, highlighted the three areas of focus for his company and for the larger Indo-US dialogue,
namely, Defence, Technology and Aviation. He suggested that there was tremendous scope for convergence in all these
sectors, and laid special emphasis on the “Make in India” initiative launched by the Indian Government. Mr. Raman Roy,
CMD, Quatrro Global Services Pvt. Ltd. presented the Indian industry perspective and said that India and the US were
natural partners where India represented a varied and skilled supply base that could deliver world class services. Mr.
SanjayMehta, Regional Vice President, IACC, andManagingDirector, Teleperformance Indiadelivered the Vote of Thanks.
On the first day, the Summit hosted knowledge sessions on IT& Cyber Security, Trends in Indo-US Cooperation in Aviation,
Education and Skill Development, and Hospitality and Tourism. On day two, the Summit delved into Sessions on
International Trade, e-Commerce the Changing Paradigm, Media & Entertainment, Exchange of Servi ces: Cooperation in
Accounting, Financial & Legal Services, and closed with concluding remarks by Dr. Lalit Bhasin, Mr. Asoke Laha and Mr.
John McCaslin.