A high-level US-India Business Council delegation, led by its chairman Ajay Banga and president Ron Somers, met Uttar Pradesh chief minister Akhilesh Yadav on Friday to discuss business opportunities in the state.
The team, impressed with the steps being taken by the state government, promised to come back with a bigger delegation in March next year.
“We are very impressed by the bold initiatives of the UP government to develop infrastructure and fresh policy interventions for improving ‘doing-business’ environment. The youthful and dynamic leadership of the chief minister holds enormous promise to awaken American companies’ interest in the state,” said Ron Somers.
Banga added that given the ?fresh efforts of state government to promote enterprises and industrial development, the USIBC will work hard to convince their business community to invest in UP and facilitate a full-size US business delegation visit in coming March.”
Assuring the delegation that UP was committed to the creation of a congenial business climate, Yadav said US firms were welcome to be a partner in state’s growth, particularly in infrastructure development.
Somers also extended an invitation to Yadav to visit the US early next year.
Later, the delegation also interacted with a team of senior officials, including officiating chief secretary Alok Ranjan, Infrastructure & Industrial Development Commissioner Anil Kumar Gupta, principal secretary, IT and additional energy resources Jeevesh Nandan and commissioner and principal secretary, food and civil supplies, Archana Agrawal.
A detailed presentation on the socio-economic, industrial and proposed infrastructure projects was also made to the visiting delegation.
Showing interest in proposed PPP projects, especially expressways and airports under various stages of implementation, Somers asked if US companies would be eligible to bid in these projects.
IIDC Anil Kumar Gupta said that since the developers need to have working experience in India, US companies could partake by forming SPVs with Indian developers.
Responding to government steps to promote IT industry, Ajay Banga and Ron Somers said that under the ‘Defense Offset’ policy, US firms were waiting to invest $3 billion in security-related sectors. They said the state can coordinate with the Centre to facilitate investment of this money in civil aviation and security modernisation.
