Have trust in India: Anand Sharma tells corporate America

Reiterating that India is firmly committed to the path of economic reforms and liberalism, Commerce and Industry Minister Anand Sharma asked corporate America to have faith in the Indian system and help establish a defining partnership between the two countries.

"Have trust (in India). Come and work with us," Sharma said in his key note address to the US India Business Council annual Leadership Summit.

The Union Minister is in Washington to pitch for US investment in India.

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In the first leg of his trip, he visited New York where he met the top US corporate leadership.   

Sharma said ‘now is the time’ to build the partnership that would have a defining impact in the 21st century, as envisioned by US President Barack Obama during his trip to India in 2010.

Sharma said both US President Barack Obama and Indian Prime Minister Manmohan Singh are firmly committed to take this relationship to greater heights.

"We have firm and undivided commitment in strengthening the partnership between India and the US," Sharma said addressing a packed hall of the US Chambers of Commerce.

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"What we can do together is very important for all of us," he said, adding that there are long list of priority areas for the two countries, ranging from defence, to space and infrastructure.

Acknowledging that what India and the US have achieved so far is definitely below potential, Sharma said technological collaboration is one important area for India.

Referring to the concerns of the American businesses with regard to Indian policies, Sharma explained in details the steps Indian Government has taken in recent times to address those concerns and move ahead with reforms.

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At the same time he conceded that discourse of partisan polity in a democratic set up does have an impact on its pace.  

"We are working on a national manufacturing policy and it will be a reality soon. We have to have faith in ourselves that together we can achieve the targets that we have set for ourselves," Sharma said.

USIBC also presented its 38th Anniversary Global Leadership Awards to Louis Chenevert of United Technologies, and to Analjit Singh of Max Healthcare.

"The award denotes industry-wide appreciation for the commitment companies are making to the advancement of US-India commercial ties," USIBC president Ron Somers said.

The Summit was focused on ways to make the US-India partnership stronger.