Business is ‘bread and butter’ of Indo-US ties, says Foreign Secretary

Business and investment linkages form the backbone of the India-US bilateral ties and one should not “think small” in taking forward these linkages towards the next level, said Foreign Secretary S Jaishankar .

“Bread and butter of the relationship is business …Both countries are indispensable to each other. Today there is virtually nothing that we don’t talk about. One of the big changes today in the ties today is how business has become central,” he said here on Wednesday during the launch of US-India Strategic Partnership Forum (USISPF).

Jaishankar, who was India’s Ambassador to the US from 2013-15, also said that on issues such as counter-terrorism, maritime security and energy, both countries have to work with each other and no one country can work in these areas in silos.

The Foreign Secretary also said that both countries have vowed to take their ties to the next level and this was reaffirmed during the visit of Prime Minister Narendra Modi to the US in June.

Meanwhile, the USISPF Chairman John Chambers, who is also now the Executive Chairman of Cisco Systems, lauded the demonetisation drive of the Indian government stating this will further boost ‘Digital India’ programme of the government.

Chambers also said that the Goods and Services Tax (GST), which came into effect from July 1, will boost businesses.

The USISPF was officially launched on Wednesday with a view to boost bilateral business and strategic ties between both countries.

Mukesh Aghi will lead USISPF as President and Gaurav Verma will serve as Chief Operating Officer. USISPF's Board of Directors will include Chambers as the Chairman and Vice-Chairs Punit Renjen (Global CEO, Deloitte LLP) and Edward Monser (President, Emerson Electric).

It will have Board of Members Indra Nooyi (Chairman & CEO, PepsiCo) and Ajay Banga (President & CEO, MasterCard) among others.

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