Business News This Week
USIBC hosts Executive Committee Briefing for U.S. Ambassador to India, Richard Verma
WASHINGTON, D.C. June, 7 – The U.S.-India Business Council (USIBC) hosted an Executive Committee briefing for United States Ambassador to India, Richard Verma.
“Ambassador Richard Verma’s current visit to Washington D.C. comes at a key moment in U.S.-India bilateral trade and commercial ties. Trade between the United States and India is poised to grow from $100 billion to the $500 billion in the next few years. USIBC member companies are united in their efforts and actions to build both the Indian and U.S. economies as attractive destinations for investment and to create jobs and opportunities for citizens to grow and prosper. To turn this vision into reality, we need a strong foundational relationship between governments and businesses,” said Dr. Mukesh Aghi, President of USIBC. He further said, “Ambassador Verma’s distinguished record in public service as well as the private sector, positions him in a unique way to promote the interests of American enterprise in India, while fostering good will and cooperation between the two countries.”
The Council currently has eleven Executive Committees, covering every major business sector— Aerospace & Defense, Information Technology, Energy and Environment, Financial Services, Food & Agriculture, Infrastructure, Legal Services, Media & Entertainment, Life Sciences, Real Estate and Retail Trade. USIBC develops its advocacy positions in collaboration with these committees which are chaired by senior executives of member companies.
As part of the briefing, USIBC Executive Committee Chairs had an opportunity to present ideas and recommendations to Ambassador Verma that have the potential to fast track India’s economic progress in areas such as ease of doing business, proactive taxation and policy consistency.
Ambassador Verma has been a key figure dedicated to strengthening U.S-India bilateral relations since assuming his diplomatic role in December 2014. Prior to his appointment as the U.S. Ambassador to India, Ambassador Verma served as former Assistant Secretary of Legislative Affairs. Within the private sector, Ambassador Verma served as a partner at Steptoe & Johnson LLP and Albright Stonebridge Group. He has extensive knowledge and expertise in international law and global regulatory compliance with a specialization in Asia and emerging markets.
