IndiaPost.com - USABF summit discusses trade opportunities with India

NEW DELHI: The investment summit of US-Asia Business Forum (USABF) was inaugurated here last week by reciting from Tagore's Gitanjali and Gandhi's Quit India declaration to set the ambience at Taj ManSingh Hotel in Delhi.

In his opening address Kevin Kaul, executive director and the founder of The US Asia Business Forum (USABF) said that this group is formed to harness and foster business relations between US and India. He proudly stated that India represents both a great consumer market as well as one of most robust investment destinations in the world with growth across multiple sectors.

Chief guest Minister of State for Food Processing Subodh Kant Sahai welcomed the delegates from US-Asia Business Forum. He emphasized on the growing need and focus on bilateral trade between two largest democracies in the world. Sahai spoke at length on the booming market opportunity in all the sectors with special emphasis on food processing sector in India and invited non-residential Indians to exploit the opportunity with their global skills.

Girija Vyas, Chairwoman of National Commission for Women, narrated her experience in America in late '60s and how the perception of India metamorphosed gradually into that of a nation competent to lead the world in 21st century.

She also emphasized that development of India will not take shape without providing and recognizing equal rights to Indian women. John Fennerty, Consul Commercial, US embassy in Delhi talked about asymmetry in the relationship between US and India because even today, far few numbers of US students are coming to study in India.

He also pointed out escalating cost of doing business in India due to highly priced star hotels. Dev Prasad Katragadda, Chairman of USABF and a famous philanthropist in USA thanked all the delegates attending the meet and told that he is extremely happy of the India's growth, which of late has recognized the merit of capitalism as only proven form of development. Rohtas Goel, CMD of OMAXE Ltd. related his experience of how he started with only Rs 10,000 investment in 1989 and his focused effort in real estate sector gave birth to an organization now worth more than Rs 10,000 crores.

Rohtas also spoke at length of newly emerged synergy between Indian Government and entrepreneurs and how that wedlock is changing the face of the country. There were some 40 speakers.

Among them Ajay Bakaya, Managing Director of Sarovar Hotels, spoke about "Scope of Hotel Industry in India", Sushil Tripathi, Former secretary Petroleum, talked about "Macro View of development in India", Dr. Anil Shah, well known LA cardiologist talked about economic relations between India and the USA.

Sudhinder Thakur who holds the grade of Outstanding Scientist in India spoke about the importance of Nuclear Power in India. Piyush Agrawal, the chairman of Asian American Federation spoke eloquently about the role of NRIs in Development of India.

The seminar day was all about numbers and statistics. There were discussions on opportunities in agriculture, high-tech, health care and defense. Jagan Yellisetti, the executive director of USABF summarized saying, "India is our land. And we have a mission to make it more fertile. India needs us and we need India." People were spellbound by the laser beam content of the speakers as well the passion and humor of the master of ceremonies, Krishna Shah.

The attendees were commenting that this was the best seminar they have participated in a long while. Definitely more engaging then Pravasi Day and obviously more illuminating. Krishna Shah announced that USABF is organizing a second US India Investment seminar and Business Expo from December 19-22 in Los Angeles, expecting participation from key players in India and US.

"We expect more than 2000 companies from India to participate in the only of its kind Business Expo in the US," said Kevin Kaul. He also stated that USABF is opening the 30 percent GDP of the world economy to the companies in India and they should take advantage from this. He invited the attendees to join them. He added that USABF is an idea whose time has come.

And no one can stop it. The main event of 10 January was preceded by a Press briefing session and a dinner on 9 January hosted by USABF for the U.S and Indian delegates. On January 10, after the highly interactive seminar, the delegates were hosted to a dinner in a highly ecstatic environment at a historical monument in South Delhi.

USABF's historic and milestone visit of the 2nd delegation to India concluded 11 January with a lunch and dinner hosted by USABF. The delegates held one-on-one meetings with their respective counterparts to achieve the desired objective of the 2nd visit of the USABF delegation to India.