AmCham organized a debriefing session post the U.S.-India Strategic and Commercial Dialogue with U.S. Ambassador Richard Verma and Joint Secretary, MEA, Mr. Munu Mahawar, on 6th September 2016 at ACSA, U.S. Embassy, New Delhi.
Mr. Pratyush Kumar, Chairman, AmCham, in his welcome address, said that the last few months witnessed a number of positive developments on the U.S. – India economic front strengthening U.S. – India strategic and commercial relations.
Ambassador Richard Verma said that in the last few weeks there have been intense engagements between India and the U.S. and there is strong momentum in the relationship. Mr. Modi after becoming the Prime Minister had eight meetings with President Obama. The two-way trade has increased to $109 billion. During the U.S.-India Strategic and Commercial Dialogue, issues such as reforms, taxes, economic environment, energy and many more were discussed. U.S. was keen to sign a bilateral investment treaty with India.
Mr. Munu Mahawar, in his remarks, said that every month a new subject was being included for discussion between the two governments. Clean energy was added last month. There was ongoing discussion in the defense sector. Both the countries were now discussing co-production. For cyber security, a framework has been prepared. He agreed that there remained a few issues where progress was required. As far as bilateral trade was concerned, it was much below the potential. Once ease of doing business happens, trade would also improve.
This was followed by an interaction from the floor by members. Members raised issues regarding education, health, digital India, solar power, clean energy, defense, cyber security, high technology transfer in the defense sector, procurement process, offsets, etc.
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