The Hindu Business Line : American chamber launches Kolkata chapter

Attracting FDI Unlike the Indo-American Chamber of Commerce, AMCHAM would focus on the business opportunities for US companies in the region. However, the two chambers would play complementary roles.

Kolkata , March 28

In a bid to boost US investments in eastern India, the local chapter of the American Chamber of Commerce (AMCHAM) was formally launched here on Tuesday. This will be the fifth in India, after Bangalore, Hyderabad, Mumbai and Chennai.

Speaking at the inaugural function, Dr Sabyasachi Sen, Secretary, Department of Commerce and Industry, Government of West Bengal, expressed hope that the Kolkata chapter of AMCHAM would send the right signals to US companies about the business opportunities available here. West Bengal, he said, lagged behind other regions in the country in attracting FDI in general and US investments in particular. "We could not reach the critical mass in this regard and from now on, hopefully, the mass will be achieved," he observed.

Mr Henry Jardine, US Consul General, said that unlike the Indo-American Chamber of Commerce, AMCHAM would focus on the business opportunities for US companies in the region. However, the two chambers would play complementary roles, he said. West Bengal, he felt, should be commended for its efforts to attract foreign investments. Between 1991 and 2004, according to some estimates, West Bengal received investments of $6 billion, with the main industries being chemicals and petrochemicals at $2.2 billion, and iron and steel at $1.9 billion, while it received FDI approvals to the tune of $2 billion, he added.

Mr Ramesh Bajpai, Executive Director, AMCHAM - India, said US investments in India amounted to $18 billion. AMCHAM, he said, had constituted a committee on American SMEs to explore how they could be persuaded to come to India. Many American SMEs were active in different parts of the Asia Pacific region but not in India, he said.

Mr G.K. Sachdev, who heads the local chapter of AMCHAM in India, named some companies in the local chapter including Quaker Chemicals, Ixia, Databazaar India, Skytech Solutions, American Express Bank, PricewaterhouseCoopers, Ernst & Young, Labvantage Solutions, P&H MinePro Services, Ondeo Nalco India, The Chatterjee Group and Netguru.

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