The US-India Business Council on Monday termed growing ties between Washington and New Delhi as a 'catalyst' for continued economic growth, even as a former US envoy wanted the two countries to go beyond rhetoric.
"Both the nations (India and the United States) have initiated the critical step to further bilateral ties, but what is now needed are measures to put meaning into the content," former US envoy Frank G Wisner said, addressing a meeting of the US-India Business Council in New Delhi.
The biggest advantage of the partnership is that growth of business and markets would not only depend on decisions taken within the government, but also on decisions taken by business groups as well, he said.
Physical infrastructure sector in India, Wisner noted, would throw open huge opportunities not only for large American corporate houses, but also for medium and small players. "The market would bring in substantial growth opportunities for banking, para-banking and insurance sectors."
The partnership between the two largest democracies will act as a catalyst for continued economic growth in both the countries, Chairman, USIBC, Charles Kaye said.
"Partnerships in diverse fields such as defence, energy agriculture and infrastructure development would set the platform for all-round development here and constructive business dialogue with India," he said.
The USIBC delegation plans to meet government officials and entreprenuers from Indian industry to discuss possible partnerships and the upcoming US Presidential Mission to India.
Wisner also described Prime Minister Manmohan Singh's recent visit to the US as a highly successful one, which received wide coverage in the American media, signifying India's growing importance in Washington.
"The joint statement issued after President Bush's meeting with the Indian Prime Minister reflects the hard work from both sides that went in to make the visit a success," he said.
The council, besides looking for areas of collaboration, would also assist business houses in the US build partnerships with entrepreneurs here, Kaye said.
"With possibilities of business partnerships in a wide variety of fields, energy, agriculture, health, education, infrastructure and science and technology remains immediate priorities," he added.
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