Full page fax print - Indo-American Chamber Of Commerce
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Message<br />
contacts between the two countries. The US is increasingly realizing the need for<br />
connecting two tier cities in both the countries. The recent visit of the US<br />
Ambassador to Varanasi organized by IACC is a ca se in poin t. IACC, with its 11<br />
regional chapters and expanding membership can play an effectiv e role in<br />
bringing the peop le together , by making each other understand th e cultural,<br />
so cial and emotional mor es. Ther eis als oscope for active participa tion of both<br />
countries in legal field, academic s, media an d betwee n the young executives<br />
from both the countries. IAC C has set up separate forums under various<br />
chairmen to pursue these goals in right earnes t.<br />
Vis it of President Obama to India in the next month will be an important<br />
oca c sion for both the countrie sto chart out a new agenda and expeditiously sort<br />
out some pending issu es.On a macro scale, India willbe happy to have the US<br />
Administration's concurrence andsupport for India's campaign for a seat in the<br />
UN Security Council. Also, the Indian Governmen t is pitchin g for an early<br />
conclusio n of the treaty for avoidance of double taxation of social security tax,<br />
which has been pending for a very long time. Th eUS on the other hand, is likely<br />
to pitch for legac l larity on capital gains tax on mergers and acquisitions against<br />
th e back drop of recent court decisions. It is expected that issues like higher<br />
equity thresho ld for FDI in insurance , banking and defense, relaxation of FDI<br />
rules in retail, participation of foreign airlines i n the India n aviatio n secto r might<br />
cro p up a t the bilateral talks. IAC C has taken stands on these issues. Yet,<br />
economic engagement is a dynamic concept.<br />
Contours of our stand can<br />
change with th e passage of time to reflect the curren t realities. Therefore, it is<br />
imperative that the valued members should give their inputs and views to<br />
calibrate the IAC C's views and perceptio ns.<br />
In the post slowdown days, there is an increasing focus on trilateral relationship<br />
among Indi a, US and China, three largest economie s in the world. The<br />
synergies<br />
among them are mapped and well documented. In fact, in the last<br />
<strong>Indo</strong>-US economic Summit, this was a subjec t for a panel discussion involving<br />
some of best brains in India in diplomacy, media, industr yetc. The upshot of the<br />
discussion was that while the economies can compete in many area s; they can<br />
supplement and complement eac h other in many disciplines, pat r icularl yfor<br />
recovering the world economy from slowdow n blues. I feel this is an area that<br />
should merit ou rcontinued focus and ideation.<br />
IACC has complete d 42 years of its fruitful existe nce. As a bi-national chamber,<br />
we have great prospet c s and challenges ahead . We have to emerge as the most<br />
sought out rallying point for Indian and US businesses. We have to be more<br />
po r active in our approach towad r s businesses and social matters.. W e have to<br />
emerg ea sthe fountain head of newer ideations and concepts. We have to see<br />
the interest sof Indian and US businesses objectively and in a balanced way. For<br />
achieving these loft y ob jectives , we have to work shoulder to shoulder. I need<br />
your support, direction, advise and good wishes in this onerous tas k.<br />
Thank You<br />
Gaut am Mahajan<br />
National President, IACC<br />
INDO-US BUSINESS<br />
<br />
SPECIAL ISSUE<br />
06
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