 "Devyani episode casts shadow over Indo-US ties: Somers")
The diplomatic spat over the Devyani episode has cast a shadow over progress in friendly ties between India and the US, a top American corporate leader today said while exhorting both countries to work hard to bring the bilateral relationship back on course.
"The whole episode is deeply regrettable, truly unfortunate. Although we cannot speak on behalf of the governments, this incident and the way it was mishandled casts a shadow over the progress the two countries were making in friendship these past two decades," Ron Somers, president of US-India Business Council (USIBC) said.
Addressing the Petrotech-2014 conference in New Delhi, Somers said the two governments must work hard to set the shop right again.
India and the US have a great deal in common strategically and economically, he said, adding that the very fact both countries are going to the polls in 2014 underscores their common roots in democracy - something to be proud of.
"American businesses see opportunity in the marketplace, and have so for more than 20 years, since economic liberalisation began. Some companies have been investing in India for more than a hundred years : Citi and GE as an example," he said.
"American companies respect the skills, talent, intellect, and capability of the Indian worker. Nowhere is this more evident in the India oil and gas industry - where Digboi struck oil in Assam more than 108 years ago! IT and Energy are areas of profound US-India cooperation - where mutual respect has been the driver," he said.
"We all realise that India has made enormous progress over the past two decades," he said.
"Yet, there are many challenges ahead and recent economic trends are not as hopeful and inspirational as India requires - to create 12-15 million jobs each year to keep its young, aspirational people working," he added.
To create these jobs, India needs to focus on manufacturing, a robust tourism industry, and massive infrastructure build-out, he said.
"We in the US business community have the technology, the capital, and the IP to be helpful. And we want to be helpful. US companies want to be full partners with Indian firms in advancing India's growth story," Somers said.
Somers said US industry has requests for policy clarity on important matters like FDI rules in some sectors, taxation, and IP protection that would go a long way toward facilitating greater investment.
"We at USIBC are focused on working on these challenges, but we will work through these and find solutions," he said.
"The whole episode is deeply regrettable, truly unfortunate. Although we cannot speak on behalf of the governments, this incident and the way it was mishandled casts a shadow over the progress the two countries were making in friendship these past two decades," Ron Somers, president of US-India Business Council (USIBC) said.
Addressing the Petrotech-2014 conference in New Delhi, Somers said the two governments must work hard to set the shop right again.
Also Read
"Let us not let a regrettable diplomatic row or politics derail what really needs to happen. Let us put our shoulders to the wheel - Indian industry and American industry - in genuine partnership," he said.
India and the US have a great deal in common strategically and economically, he said, adding that the very fact both countries are going to the polls in 2014 underscores their common roots in democracy - something to be proud of.
"American businesses see opportunity in the marketplace, and have so for more than 20 years, since economic liberalisation began. Some companies have been investing in India for more than a hundred years : Citi and GE as an example," he said.
"American companies respect the skills, talent, intellect, and capability of the Indian worker. Nowhere is this more evident in the India oil and gas industry - where Digboi struck oil in Assam more than 108 years ago! IT and Energy are areas of profound US-India cooperation - where mutual respect has been the driver," he said.
"We all realise that India has made enormous progress over the past two decades," he said.
"Yet, there are many challenges ahead and recent economic trends are not as hopeful and inspirational as India requires - to create 12-15 million jobs each year to keep its young, aspirational people working," he added.
To create these jobs, India needs to focus on manufacturing, a robust tourism industry, and massive infrastructure build-out, he said.
"We in the US business community have the technology, the capital, and the IP to be helpful. And we want to be helpful. US companies want to be full partners with Indian firms in advancing India's growth story," Somers said.
Somers said US industry has requests for policy clarity on important matters like FDI rules in some sectors, taxation, and IP protection that would go a long way toward facilitating greater investment.
"We at USIBC are focused on working on these challenges, but we will work through these and find solutions," he said.