Obama invites Indian-American businessman for consultations

An Indian-American entrepreneur was among a select group of business leaders invited by US President Barack Obama for consultations on the ongoing government shutdown and its impact on them.

Rahul Iyer, senior director at the California-based Siluria Technologies, which specialises in engineering inorganic materials with biological nanotechnology, was consulted by Obama on the ongoing issue.

According to the White House, Obama's meeting with nine business owners from across was about the impacts of the ongoing federal government shutdown on their businesses and updated them on where things stand on efforts in Congress to avoid a first-ever default in the nation's credit.

During the meeting, Obama heard from these entrepreneurs about the immediate effects the shutdown has had on consumer confidence, and their concerns about what a prolonged shutdown would do to harm the holiday shopping season.

"They shared stories with the President about contracts cancelled or put on hold, furloughed workers and the potential for shift and staff reductions should the shutdown continue," the White House said.

The President was joined in the meeting by Senior Advisor Valerie Jarrett, NEC Director Gene Sperling and Acting SBA Administrator Jeanne Hulit.