Ambassador Nirupama Rao Urges Focus on Value-Creation as the tangible in the US-India Relationship

Ms.Nirupama Rao, India’s Ambassador to the United States urged a renewed focus on value-creation in the US-India economic and commercial relationship. Speaking at an exclusive CII session on ‘’US-India Economic and Commercial Partnership: Two-Way Job Creation’, held at the University of Michigan, Ann Arbor, Ambassador Rao said that it is important to look at the distance travelled by India and the US in enhancing the bilateral relationship, especially given the unprecedented convergence in common concerns in global issues. Focusing on the significant mutual advantages of the economic engagement, Ambassador Rao pointed out that U.S. businesses have leveraged India’s strengths to produce globally competitive products, while Indian companies have invested $21 billion in the U.S. Private participation in trade and investment has created a strong networks of value creation. Dispelling some myths about the purported imbalance in the trade relationship, Ambassador Rao highlighted that trade with India in sectors such as manufacturing, engineering and high-tech products is actually in favor of the U.S., while in the services sector too, trade and investment linkages have created jobs, rather than taken them away. At the panel discussion that followed, Mr.Ben Erulkar, Senior Vice President, Economic Development, Detroit Regional Chamber highlighted the positive contributions made by Indian immigrants and businesses to the Michigan economy, which had suffered some of the worst impact of the economic downturn of 2008. He pointed out that increasingly, in a technologically evolving society, fewer people are qualified for available jobs—this is leading to a significant talent gap that needs to be addressed. Mr.Joseph Abraham, Senior Vice President, HCL America said that for global job creation, it is necessary to opportunities by allowing companies to invest; investing in the talent pool; universities catering to market demand in terms of curriculum development; and encouraging innovation and entrepreneurship. HCL has invested in U.S. states of North Carolina, Washington and New Jersey, increasing the U.S. employee headcount by 175% over the last three years, and have hired 40% of the workers locally. The session was chaired by Mr.Surya Kant, President, Major Markets (North America, UK and Europe), Tata Consultancy Services and Chairman, CII-India Business Forum, who said that TCS had opened 20 offices in North America, with 2500 people hired locally. Highlighting educational initiatives such as the very successful TCS GoIT program which seeks to increase student awareness about information technology as a field of study and career, Mr.Kant stressed that the company’s efforts are constantly to engage with and invest in the local community. In Michigan, TCS operates a delivery center in Troy and also has a center in Midland operated in partnership with Dow Chemicals.