If you are not doing business with India, it seems you are not in business. So, US President Barack Obama will arrive in November with the largest US business delegation to any country — a clear sign that India’s rising economy has never mattered more than now.
Obama’s “historic” five-day visit will also be his longest official trip abroad. He will have in tow a 215-member team including the who’s who of US business and a large number of small and medium enterprises. Jeff Immelt, CEO of GE; Harold ‘Terry’ McGraw III, chairman and CEO of The McGraw Hill Companies; and Indra Nooyi, CEO of PepsiCo are among those likely to accompany him.
Obama will address corporate leaders from India and the US at a business summit in Mumbai on November 6, to be organised by industry body US India Business Council (USIBC), comprising top-tier US firms investing in India, including PepsiCo and Boeing.
“That the President has agreed to address this summit demonstrates the priority he places on creating jobs for America by cultivating deeper commercial ties with India,” said USIBC president Ron Somers.
Three months ago, UK premier David Cameron had come to India with the biggest business delegation from that country. Not for nothing.
India, with China, led the world economy’s recovery. Its economy is predicted to overtake China’s within years. The International Monetary Fund has forecast an Indian growth rate of 9.4 per cent this year.