Indo-US trade ties will withstand political change: Official

MUMBAI: Calling for more action on ease of doing business from New Delhi, a senior American official today sought to allay concerns on the future of the Indo-US commercial ties, saying they are "secure" and will withstand any political change at the White House.

"The important question is what is going to happen to the Indo-US commercial engagement? We are working very hard to institutionalise it, so that irrespective of the political leadership, the mechanisms, structure and momentum will be there to continue," US assistant secretary of commerce Arun Kumar said here this evening.

With the US presidential elections months away, and Donald Trump set to bag the Republican nomination, Kumar was asked about to the future of Indo-American ties, and he termed them as "secure".

Kumar, who oversees the global markets division, made it clear that his term will end with the Obama regime.

Specifically, he said initiatives like the CEO Forum, which is now woven into the Indo-US strategic and commercial dialogue, will continue irrespective of who is sworn on January 20, 2017.

Additionally, a strong bench of public servants who are in place will also ensure that the ties continue without any difficulties, he said while addressing an Asia Society event.

The Indian-origin Kumar, who started his career here in the financial capital itself with KPMG, however, flagged concerns about ease of doing business and asked for more action on it saying conviction on India will increase only when companies see action.

Stating that this is "fundamental to the future growth trajectory of commercial relationships", he said, "many US companies are increasingly optimistic about the shift in official terms and the increased willingness to engage with New Delhi. But they are waiting to see further tangible progress in the country's business climate."

He further said even though some states have made progress, as a whole the country still finds itself at the bottom of the ease of doing business list among the G-20 groupings.

The work on this front will also help the India initiative, he added.

Terming the just legislated Bankruptcy Code as a "significant milestone", he said, "This important reform will make it more likely that banks are able to recoup their money and lend to promising Indian entrepreneurs in the future."