US Senate Committee to hold hearing on India
Washington: Ahead of Prime Minister Manmohan Singh`s visit to the US later this month, a key Senate Committee has convened a Congressional hearing on economic conditions in India.
Senator Mark Warner, Co-Chair of Senate India Caucus and Chairman of Senate Banking Subcommittee on National Security and International Trade and Finance, will chair the hearing entitled, `Assessing the Investment Climate and Improving Market Access in Financial Services in India.`
The hearing will examine US-India economic relations, as they are scheduled to be at the forefront of Singh`s working visit to the White House on September 27.
More specifically, the hearing will focus on regulatory and statutory barriers to foreign direct investment in the banking and insurance industry, prospects for liberalisation of market access for the financial services industry, and opportunities to increase bilateral investment between the US and India.
A panel of expert witnesses including Arvind Subramanian from the Peterson Institute for International Economics will describe the current investment climate at the regional and national level including major challenges to modernizing the Indian economy.
Other panelists included Richard Rossow, Director for South Asia, McLarty Associates; and Reena Aggarwal, Robert E. McDonough Professor of Business Administration and Professor of Finance, Georgetown University.
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