Club class: US back in business
By - Binita Parikh

The American Business Club was launched in a simple yet significant ceremony on Tuesday. It was the first major event organised by US government in India after the terrorist attacks on September 11.

The club was launched in the presence of Mr. Bimal Shah, minister of state for information and technology and Consul General of the United States of America David Good. "The US government wants to send a signal to the terrorists that the attack has not stopped it from functioning," said Mr. Good.

Every tragedy offers an opportunity and that the spirit of the people is still intact, he added. While it can not be said that a war is taking place, the world is facing a new kind of war and almost all the governments in the world have said that they are with the US to fight terrorism, he said.

Speaking on the occasion Mr. Shah mentioned that Gujaratis have a strong presence in the US. "We are focusing on increasing investments in agro and infrastructural sectors and have given a clear projections in Gujarat Vision 2010. We are also looking forward to joint ventures in sectors like information technology, chemicals and pharma," he added.

The lifting of sanctions has removed the last hurdle between the Indo-US relations and now the relations are expected to grow manifold, said Mr. Good. When asked about the functionalising of the lifting of the sanctions, he said that the details have not yet been communicated. "The lifting of sanctions might not mean a lot in economic terms, but it is a symbolic gesture and will open many opportunities.

While the investments will pick up slowly as the economies in the US and India are slowing down, business is bound to pick up," said Mr. Good. Answering a question on whether the attacks have brought a change in issuing of visa, he said that there is no change in the visa policy of the US government.

"The Business Club will indirectly help in getting more visas as it will create more legitimate business opportunities and it is easy to get visas if you have a legitimate base," he added. While being non-committal about changes in the US policy, he said that the US government is looking forward to some changes like new legislations that the Indian government has promised so as to put the second-generation reforms in place.

"The lifting of sanctions is bound to generate enthusiasm and attract foreign direct investments to India as the government has enhanced the sectoral cap on FDI in several key sectors," said the president of the All India Association of Industries Vijay Kalantri.

Republished from The Indian Express