External Affairs Minister S.M. Krishna has assured American business that India will restore investor confidence and regain economic momentum and growth. Addressing the 37th India-US Business Council USIBC leadership summit in Washington, Mr. Krishna said there have been periods when the country's growth seemed to lose stream, but the economy has rebounded with new vigour on the strength of strong fundamentals backed by sound policies and prudent economic management.Expressing confidence in the future of India US economic partnership, the Minister outlined various problems faced by Indian business in America. These included the worsening environment for mobility of professionals, the protectionist sentiments against the global supply chain in services industry and refusal to consider a social security agreement affecting three lakh non migrant Indian professionals in the US. Mr. Krishna also expressed concern over the unresolved market issues. He also added that the presence of India in the super 301 priority watch list and the US department of labour's list identifying trade barriers to US companies and products are some other issues that need to be addressed. On a positive note, Mr. Krishna said that India US trade in goods and services had reached a milestone by crossing one hundred billion dollars last year. He said a strong economic relationship is an important dimension of the vision of global partnership outlined by the Prime Minister Dr. Manmohan Singh and President Obama.
News On AIR | June 13, 2012 12:58 PM
S.M. Krishna to American business: India to restore investor confidence