US-India Business Council launches trade initiative

Washington, Nov 16 (UNI) In a bid to strengthen bilateral trade between India and the US, US-India Business Council (USIBC) has launched a comprehensive initiative focussing on the principal trade and investment barriers.

The USIBC is a premier advocacy organisation representing over 250 of the largest US companies investing in the country along with two dozen of India's largest global companies.

''The initiative will work towards building substantial market opening arrangements designed to bring inclusive growth to both countries,'' the USIBC said in a statement.

The council, working with stakeholders in both the countries, seeks to change the paradigm on the Indo-US trade and develop broad-based support for a robust trade and investment relationship appropriate for these dynamic economies and strategic partners.

''USIBC's ultimate goal is to unleash market forces supporting free trade and investment in a socially-sustainable manner between the US and India,'' said USIBC President Ron Somers.

It has also selected the Washington DC-based international law firm of Steptoe and Johnson LLP to assist in developing and advancing this strategic trade initiative.

UNI