SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 Sep, 2014  

USIBC Logo THMB Corporate America committed to long-term investment in India

USIBC Logo
   Top Stories
» 28 Indian startups raised over $800 mn in funding this week
» GST Council waives interest, penalty on notices to taxpayers under Section 73
» India's innovation ecosystem poised for exponential growth: Industry
» India's innovation ecosystem poised for exponential growth: Industry
» Overseas Indians faith grows in Indian economy with $1 billion deposits in April
Arun Kumar | 15 Apr, 2014
Corporate America has reaffirmed US companies' commitment to India's growth and focus on reviving investor sentiment and cross-border collaboration in the first year after India's elections.

The US-India Business Council (USIBC), comprised of more than 350 of the top-tier US and Indian companies, made the reaffirmation at a meeting in New York Monday with the Reserve Bank of India (RBI)governor, Raghuram Rajan.

The private meeting was attended by top executives from global financial services companies and institutional investors, USIBC said.

They included industry heavyweights like KKR Co-Chairman Henry Kravis, Harold "Terry" McGraw, Chairman, McGraw Hill Financial.

It was chaired by Charles "Chip" Kaye, Co-CEO of leading private equity firm Warburg Pincus.

The industry representatives heard from Rajan the challenges RBI faces in taming inflation while promoting the growth necessary to keep the engine of India's economy thriving, all in the midst of factors beyond the respected institution's control, USIBC said.

USIBC members noted their strong support for RBI's financial sector reforms including actions to further deepen India's debt capital markets toward long-term infrastructure development and manage risk, it said.

In addition to continued banking reforms, the contributions of non-bank financial companies (NBFCs) to the real economy - including those wholly-owned by foreign direct investment (FDI) - were raised.

USIBC said it also discussed with Rajan the importance of a vibrant payments industry with competition and dialogue spurring further innovations in mobile banking, prepaid, and cash transfer remittances for SME businesses and individuals.

USIBC members, it said, welcomed the Governor's insight on opportunities for meaningful US-India collaboration in the financial sector.

"American investors are grateful for the Reserve Bank of India's leadership of the Indian economy," said USIBC Director for Financial Policy Melissa Frakman.

"USIBC looks forward to continuing industry's dialogue with the RBI across capital markets, banking, payments and asset management," she added.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter