'Govt committed to support Indian industry abroad'

New Delhi, June 24 : Union Minister of Commerce and Industry Kamal Nath said the government is committed to support the Indian Industry as it ventures abroad.

While launching the the India Business Forum (IBF) in New York yesterday, he said the resources of the government were committed to help Indian companies as they venture out into overseas markets such as the US.

He also announced that his ministry would set up a coordination cell for Indian companies to help them deal with issues that come up as they venture into the overseas markets.

Pointing out the need for India to present issues faced by its companies in these dialogues, the minister called upon the IBF to support official level policy dialogues like the US India Trade Policy Forum, the US India Economic Dialogue, the US India High Technology Cooperation Group and US India Energy Dialogue.

Mr Nath also mentioned that the issue of setting up private sector arm of the Trade Policy Forum was discussed in his meetings with the US Trade Representative during his visit to Washington recently.

The IBF, set up by Confederation of Indian Industry chaired by Tata Group Chief Representative (North America) David Good, aims to share information on the activities of Indian companies in the US and to gather information on the issues and concerns faced by the Indian Industry members there.

Stating that the government would be happy take up the issues raised by the IBF, he asked CII to replicate this experiment in other countries such as the UK and Australia.

The meeting was attended by the head of operations of several Indian companies including Bharat Forge, VSNL, State Bank of India, Essar Group, Ranbaxy, TCS, Satyam, Larsen&Toubro and Exim Bank of India.

Ronen Sen, Ambassador of India to the United States commerce secretary S N Menon and Consul General at New York Neelam Deo, were among the others who addressed the meeting.

UNI

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