This ad will auto close in 10 seconds

CEO Forum announces initiatives to enhance India-US ties

Last Updated: Saturday, September 24, 2011 - 18:09

Washington: Welcoming Indian announcement on guidelines for Infrastructure Debt Fund, the US-India CEO Forum announced several initiatives to improve the private- public-partnership between the two sides in areas like clean drinking water, conservation and distribution system in India.

"Going forward, there are several areas on which there need to be progress and the Forum could also take on certain projects and initiatives that the CEOs can work collaboratively on," said Tata Sons Chairman Ratan Tata, who is the Co-Chair of the Forum.

"Areas that were considered for CEO Forum action include clean drinking water, water conservation and building energy efficiency," Tata said in a statement after the meeting, held here on Thursday.

David Cote, chairman and CEO, Honeywell, is the other Co-Chair of the forum.

"The CEO Forum's recommendations have provided a roadmap to strengthen the economic bilateral relationship between India and the United States and creating jobs," he said.

Noting that economics and globalisation is not a zero-sum game, Cote said India's growing economy should not be seen as a burden on the US, nor a symbol of America's failure and India's success.

"Job creation there does not equate to job loss here. I look forward to making more progress and putting the Forum's recommendations into action," he said.

Welcoming the announcement by the Indian Government on the guidelines for an Infrastructure Debt Fund, the Forum in a statement issued Friday said its members look forward to the completion of the final regulations that implement these investment structures.

The Reserve Bank yesterday announced guidelines for permitting banks and Non Banking Financial Companies (NBFCs) to set up Infrastructure Debt Funds (IDFs) to help meet long-term financing for the sector.


First Published: Saturday, September 24, 2011 - 18:09
comments powered by Disqus