**OT** Face-off to trade-off?
(Nuclear proliferation and Kashmir notwithstanding, India and the US can meet on business and trade)
By Vasantha Arora in Washington
AMERICA Inc is looking up to President Bill Clinton's visit to thaw the chill in Indo-US trade relations in the aftermath of Pokhran-II. Nearly two years after the Buddha smiled again, American businesses are coming to realise that sanctions have actually hurt their interests while filling the coffers of their European rivals who have stepped in to service India's military needs. The pressure of these affected conglomerates on the US government could lead to further easing of sanctions. "This is quite an opportunity to bring things to a higher plane," says US-India Business Council executive director Michael T. Clark, who has been in touch with the White House in drawing up the trade agenda for the presidential visit.
Despite acute political differences, particularly over non-proliferation and Kashmir, trade is one area where the interests merge.
According to Clark, more than 50 senior corporate executives, including former US ambassador to India Frank Wisner - who now represents the American International Group Inc (aig) - will be accompanying Clinton. Other big names expected are Lou Gestner of IBM, Arun Netraveli of Lucent Technologies, Jack Smith of General Motors, Kenneth Lay of Enron and Jack Welch of General Electric (GE). Senior representatives of Boeing, Caterpillar, Xerox, Chubb Corp, aig, Chem Tech, ibm, SunMicrosystems, Reed & Preist, Stone & Webster and Morgan Stanley are also likely to tour India. "We'd like to use the presidential trip to focus on market access for US companies," says Clark. Many Indian-American businessmen eager to join the president on his visit have approached local Congressmen to put in a word with the White House....
outlookindia.com |
