WASHINGTON, Oct. 12 /PRNewswire-USNewswire/ -- The U.S.-India Business Council (USIBC), in partnership with the Confederation of Indian Industry (CII) will launch on October 15, 2008 its new "Green India' Initiative, highlighting the challenges and opportunities relating to India's massive infrastructure build-out and those U.S. technologies which can match these needs. USIBC's 'Green India' Summit at the U.S. Chamber of Commerce in Washington will feature India's Union Minister of Power, Sushil Kumar Shinde, together with U.S. Commerce Secretary Carlos Gutierrez, along with a host of experts associated with clean technologies and renewable power.
USIBC's objective is to focus increased attention on the necessity of meeting India's infrastructure demands by implementing state-of-the-art, environmentally-sustainable technologies.
Innovation and investment in new technologies - essential to protect the environment while reducing stress on global markets - presents a unique challenge given the financial turmoil roiling economies worldwide. Indian financial heavyweights Naina Lal Kidwai of HSBC and Rajiv Lal of IDFC will share their prescriptions for how India can mobilize as much as a half trillion dollars in infrastructure investment needed over the next half decade, despite financial uncertainties. India represents one of the most promising destinations for clean technology investment.
The event has attracted major 'star power' from a range of sectors and will proudly feature important addresses by Montek Singh Ahluwalia, Deputy Commissioner of India's Planning Commission, as well as former Secretary of Defense and USIBC Board Member William S. Cohen.
The U.S. Secretary of Commerce, Carlos Gutierrez, will likely announce an upcoming civil nuclear trade mission to India, which will take place before year-end. As a result of last week's signing into law the U.S.-India civil nuclear cooperation initiative, U.S. companies will now have an opportunity to compete for a fair share of India's civil nuclear build out - valued at more than $150 billion over the next 30 years, creating as many as a quarter million high-tech jobs here in the U.S.
"The United States and India have embarked on a remarkably constructive journey together. As the world's two most prominent democracies, we have a special obligation and responsibility to chart a course that stems environmental degradation and leaves our planet in better shape for future generations. Green India will be the first in a series of summits to be held in the U.S. and India during alternate years to energize this important dialogue," said Ron Somers, USIBC President.
The U.S.-India Business Council, formed in 1975 at the request of the Government of India and the U.S. Government to deepen two-way trade and promote U.S.-India commercial ties, is the premier business advocacy organization representing 280 of the largest U.S. companies investing in India, joined by two dozen of India's largest global companies. USIBC is hosted under the aegis of the U.S. Chamber of Commerce - the world's largest business federation representing more than 3 million businesses and organizations of every size, sector and region.
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