US-India Business Council bullish about Indian economy

NEW DELHI: United States and India Business Council ( USIBC) said the Council is "quite bullish and upbeat" about the prospects of Indian economy under the leadership of Prime Minister Narendra Modi.

This was stated by the Council President Ajay Banga, president and CEO, Master Card, who led a delegation of the Council at a meeting with Union Urban Development Minister M Venkaiah Naidu here today, according to a release.

Banga said that in the current global situation in which manufacturing bases are returning to the US, Mexico and a few other countries, India should take advantage and become a strong member of the supply chain through necessary initiatives.

The delegation noted that the decisive mandate Modi government has got in recent general elections has received global attention and said such a clear mandate would enable necessary policy initiatives for economic development of India.

The delegation consisted of former Ambassador Frank Wisner, Stephen Briam, Vice-President, IBM, Purna Saggurti of Bank of America, Dianne Farrell, Acting President of the Council and Vipul Shah, CEO and Chairman, Dow India.

Naidu said India always valued cooperation with the US and Modi government would not miss any opportunity of bilateral cooperation for mutual benefit as the Prime Minister is keen to put the economy back on track.

Executives of IBM and Dow expressed the intention of their companies to appropriately contribute to urban development initiatives of the central government.