U.S. Chamber’s Donohue Calls For ‘Next Chapter,’ in U.S.-India Relationship
Collaboration between India and the United States in areas such as trade and investment, infrastructure, and technology would expand and create jobs in both countries, “but it won’t happen automatically,” U.S. Chamber President and CEO Tom Donohue told business and government leaders in New Delhi, India.
“The business leaders in this room and throughout our countries have to make it happen,” Donohue told attendees at an event held by the Confederation of Indian Industry. The speech was part of Donohue’s seven-day trade mission to India.
During his April 13 speech, Donohue highlighted the importance of the U.S.-India partnership, pointing to two-way trade that exceeds $40 billion annually and is expected to grow at double-digit rates well into the next decade.
To move the partnership to the next level, Donohue said, the Indian government must reduce tariffs on goods ranging from medical technology to Internet services, adopt a modern postal law that would attract more investment from U.S. express delivery and logistics companies, and lift caps on foreign direct investment in defense, insurance and other key sectors. In addition, Donohue asked Indian leaders to modernize regulations in mining and other realms of energy and power development, and to do more to protect intellectual property.
More open retail and supply chain management sectors “would yield huge benefits for the Indian people,” by creating efficiencies and greater productivity, Donohue said. Finally, he praised the historic U.S.-India Civilian Nuclear Agreement and asked Indian legislators to “tackle the liability issue” in a way that is “fair, reasonable, and which lives up to past commitments.”
“It’s time to start writing the next chapter in the positive U.S.-India commercial relationship, with the private sectors of both countries leading the way,” Donohue said. “In my view, there has never been a better time or opportunity to lift U.S.-India trade and investment relations to a whole new level.”
As part of his trip, Donohue will meet with senior government ministers, including India’s Deputy Planning Chairman, the Competition Commissioner, the Commerce Secretary, and the Roads Minister. Donohue will also fly to Mumbai, the financial capital, to meet with business leaders and representatives of India’s largest banks.
