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USIBC Chairman Ajay Banga Lays Out Agenda for Progress with India



  USIBC Chairman Ajay Banga Lays Out Agenda for Progress with India

Business Wire

WASHINGTON -- July 11, 2013

The U.S.-India Business Council (USIBC) today hosted its 38^th Anniversary
Leadership Summit, Agenda for Progress, bringing together U.S. and Indian
industry and government leaders to chart the way forward in the partnership
between the world’s largest democracies. India’s Union Minister of Commerce &
Industries Anand Sharma provided the inaugural address. The summit’s closing
keynotes were provided by India’s Union Finance Minister P. Chidambaram and
United States Trade Representative Michael Froman. U.S. Secretary of Commerce
Penny Pritzker addressed the audience at one of her first public appearances
in her new capacity.

Union Minister of Finance P. Chidambaram delivers the closing keynote address
at USIBC's 38th Annive ...

Union Minister of Finance P. Chidambaram delivers the closing keynote address
at USIBC's 38th Anniversary Leadership Summit, Agenda for Progress in
Washington, DC. (Photo: Business Wire)

USIBC Chairman Ajay Banga, MasterCard President & CEO, energized the crowd
with a speech urging deeper industry collaboration between the U.S. and India
and the need for political leadership to step up and create transparent,
predictable, and consistent business environments in both countries (full
remarks available here).

“We want to broaden and deepen the economic and commercial ties between India
and the United States. We want to strengthen our national security partnership
as well. While we may have competing viewpoints on how to get there, there’s
no disputing we have one agenda – and that’s helping India-U.S. relations
fulfill their promise,” said Banga to a crowd of 350 of the most senior
industry and government officials in the U.S.-India commercial space.

Banga recognized recent challenges in the relationship, citing issues which
have caused great concern to investors including India’s tax policy, local
manufacturing restrictions, and challenges to innovation and intellectual
property. “India has an opportunity to grow its pharmaceutical industry,
foster innovation, and create competition. It’s in everyone’s interest to find
solutions with the private sector. But that prospect is jeopardized when IP is
jeopardized.”

Banga also drew attention to the problematic provisions in the proposed U.S.
immigration bill which discriminate against global technology providers and
harms job creation in both countries. “We believe it’s in our interest not
only to open doors to more skilled workers, but also to ensure immigration
reform doesn’t discriminate against our partners nor limit U.S. companies from
choosing where they source the IT support they need,” he said.

“India-U.S. business relations have always been at the heart of the U.S-India
partnership. The fact that the U.S-India relationship is under attack by the
pain points I’ve just mentioned on both sides makes the search for common
ground more timely and crucial,” continued Banga. “The U.S. is better…India is
better…the world is better…when we deepen the commercial and national security
ties between the largest and longest-running modern democracies. This is what
we have to do.”

Also during the leadership summit, USIBC presented its prestigious Global
Leadership Awards to industry leaders Louis Chênevert, Chairman and CEO,
United Technologies Corporation (UTC), and Analjit Singh, Founder and
Chairman, Max India Limited, for their outstanding contributions to the
U.S.-India growth story. A global trailblazer in manufacturing, Mr. Chênevert
has led UTC’s significant investments across India in key sectors including
commercial building systems and aerospace. Through Max India, Mr. Singh has
expanded healthcare across India, founding successful joint ventures with
leading American companies to bring technology and innovation to those who
need it most. Max India is a multi-business corporate, driven by the spirit of
enterprise and focused on people and service oriented businesses. These USIBC
Global Leadership Awards recognize the role exemplary industry leadership
plays in shaping U.S.-India ties.

The summit was generously sponsored by members of USIBC, led by Diamond
Sponsor Cognizant, a global leader in business and technology services.

USIBC’s Proud History

Formed in 1975 at the request of the U.S. and Indian governments, the
U.S.-India Business Council (USIBC) is the premier business advocacy
organization advancing U.S.-India commercial ties. Today, USIBC is the largest
bilateral trade association in the United States, headquartered in Washington,
DC, with liaison presence in New York, Silicon Valley, and New Delhi,
comprised of more than 350 of the top-tier U.S. and Indian companies. Ajay
Banga, President & CEO of MasterCard, is USIBC’s chairman. For more
information, visit www.usibc.com

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20130711006523/en/

Multimedia
Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50669092&lang=en

Contact:

U.S.-India Business Council (USIBC)
Kathryn Van Dyken, 1-202-463-5768
kvandyken@uschamber.com
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