Corporate America has developed a strong stake in India and is playing a catalytic role in improving US-India ties, say top executives with US firms operating in India.
The latest manifestation of this, according to these executives, was the voting out of the Burton Amendment in the US House of Representatives earlier this month. Mark Mileusnic, country manager of the Chubb group of insurance companies here said, I know that many companies, including Chubb, strongly communicated to their Congressional representatives the importance of defeating this amendment and, correspondingly, the importance of expanding relationships with India. As more American companies discover India, it can only improve the relationship across the board, added James Moorhouse, President, North India council of the Indo-American Chamber of Commerce.
He is also the vice-president, India, of the US-based Westinghouse Electric (SE) Asia.
The US has emerged as the largest foreign direct investor in India with approvals during 1991-1997 touching Rs 30,052 crore ($8.59 billion). This did not happen overnight
