India’s Minister Of Commerce, Industry & Trade In The US

NEW YORK (TIP): India’s Commerce, Industry and Trade Minister Anand Sharma visited New York from 9-10 July, 2013. The Minister was accompanied by S.R. Rao, Commerce Secretary, Rajeev Kher, Additional Secretary, Rajeev Arora, Joint Secretary and Atul Chaturvedi, Joint Secretary. A business delegation led by Confederation of Indian Industries (CII) also accompanied the Minister.

On 10th July, the Minister met UN Secretary General Mr. Ban Ki Moon. He also met with the corporate senior leadership of several companies and encouraged them to invest in broad based manufacturing in India. The companies expressed keen interest in expanding their business presence in India and agreed to stay engaged with Indian market through trade and investment.

Anand Sharma gave a key note address to the members of US India Business Council and CII where he highlighted the fact that India and the US shared a strategic partnership, which ranged across sectors such as, aerospace, nuclear and clean energy, defense, agriculture, IT, communications, science & technology, etc. Both countries had also invested in each other, and the relationship was bound to become stronger as India bounces back to its high growth trajectory.

The Minister highlighted India’s focus on high-end led manufacturing growth, and its plans to create self regulated autonomous industrial cities called the National Industrial Manufacturing Zones (NIMZ), thus putting in place infrastructure as well as an environment where speedy approvals and permits can be obtained within these cities itself. He invited US manufacturers to utilize the opportunity provided by NIMZ.

He also reiterated the fact that India remained the third most favored nation for Foreign Direct Investment (FDI), and invited the US to invest in sectors liberalized by the new FDI Policy such as Multi Brand retail, Civil Aviation and Information and Broadcasting.

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He also said that barriers for movement of skilled professional should not be created and rather removed for the benefit of both countries. Amongst other issues, the Minister also briefed the audience on the India-EU Free Trade Agreement. He also met senior correspondents from International media.

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