Big businesses pin hopes on deeper ties

NEW DELHI: On the eve of US president Barack Obama’s visit to New Delhi, the two countries’ businessmen are hoping to see progress in long-standing issues such as the Indo-US bilateral investment treaty.

US-India Business Council chairman Ajay Banga told ET that investors would like to see ‘big picture’ statements from Prime Minister Narendra Modi and Obama to be backed by some tangible outcomes.

“We would clearly want to see that this improving relationship is not a one-time thing and the chemistry between the two countries continues to head in the right direction. We are not just looking for big picture statements, but also tangible things like progress on the bilateral investment treaty and renewing Indo-US defence collaboration,” Banga said in New Delhi.

“Even if three or four real actionable areas emerge at the summit, that’s great progress,” he said. Banga is one of the members of the US India CEOs’ Forum which also includes PepsiCo chairman and CEO Indra Nooyi and is co-chaired by Honeywell chairman and CEO David Cote and Tata group chairman Cyrus Mistry.