Sachin Pilot discusses bilateral issues with US officials

WASHINGTON: Visiting Minister of State for Corporate Affairs Sachin Pilot has held a series of meetings with US officials and discussed bilateral issues in particular those related to competition policy and corporate governance.

Pilot, who arrived here on a two-day visit on Thursday, yesterday met Edith Ramirez, Chairperson of the US Federal Trade Commission ( FTC), and Robert Blake, Assistant Secretary of State for South and Central Asia.

In his meeting with Ramirez, Pilot reviewed the memorandum of understanding signed in September 2012 by the Indian Ministry of Corporate Affairs and Competition Commission of India with the US Department of Justice and Federal Trade Commission.

Subsequently, it was decided that the concerned legal agencies associated with the enforcement of competition law would interact closely as per the aims of the MoU, an official statement said.

Pilot also directed officials to identify specific activities for cooperation and joint action prior to the forthcoming visit of Ramirez to India in October 2013, the statement added.

The minister also suggested cooperation between Indian Institute of Corporate Affairs ( IICA) and FTC for capacity building and generating awareness about competition legislation among the legal practitioners in both countries.

Later in the day, Pilot presided over a function organised at the George Washington University Law School to renew a MoU between the IICA and the institution.

"International experiences covering the global business environment, corporate law, corporate governance and competition law can be good learning for IICA," he said.

The union minister also met a team from the International Finance Corporation led by its Vice President, Risk Management and Reporting, Saadia Khairi.

They discussed a broad range of topics relating to business environment in India and the provisions about corporate governance and corporate social responsibility in the forthcoming new Companies Bill.

The minister also inaugurated the Washington chapter of the Institute of Cost Accountants of India during the visit from June 13-14.