Madhukar Jetley, who played an important role in bringing the US delegation to Lucknow, told IPA that the delegates were quite happy after meeting the chief minister Akhilesh Yadav and they were studying the proposals and presentation made by the UP government.

Talking about possibility of areas where US businessmen could invest in, Madhurar Jetley said the members of the delegations showed more interest in infrastructure, energy and expressway, among others.

Jetley further informed that the members of the delegation would revert back to UP government and inform on the areas where they would be making investment in the near future.

'We are very impressed by the bold initiatives of government of U.P. to develop infrastructure and fresh policy interventions for improving 'doing-business' environment. The youthful and dynamic leadership of the Chief Minister holds enormous promise to awaken American companies' interest in Uttar Pradesh,' said Ron Somers, President of United States-India Business Council (USIBC).

A high level United States-India Business Council (USIBC) delegation met Chief Minister, Akhilesh Yadav recently.

Led by Chairman USIBC, Ajay Banga and President Ron Somers, the delegation was on its state visit to explore United States - Uttar Pradesh business opportunities.

Assuring the visiting delegation that the Government of Uttar Pradesh was committed to creation of congenial business climate in the State, Chief Minister Akhilesh Yadav said that US companies were welcome to Uttar Pradesh to be a partner in unprecedented growth envisaged across all sectors, particularly infrastructure development.

President, USIBC, Ron Somers extended invitation to Chief Minister to visit United States early next year.

Chairman USIBC, Ajay Banga said 'Given the fresh efforts of state government to promote enterprises and industrial development, USIBC will work hard to convince US business community to invest in Uttar Pradesh and we will try to facilitate a full size US business delegation visit to the State in coming March.'

Later, the delegation interacted with a team of senior officials of State government, including Chief Secretary (officiating), Alok Ranjan; Infrastructure & Industrial Development Commissioner, Anil Kumar Gupta; Principal Secretary, IT and Additional Energy Resources, Jeevesh Nandan; Commissioner, Food and Civil Supplies, Archana Agarwal; Principal Secretary, Small scale industries; & CEO, UPEIDA-Mukul Singhal; Principal Secretary, Public Works Department, Arvind Singh Dev; Secretary Tourism, Manoj Kumar; among others.

A detailed presentation — on socio-economic, industrial and proposed infrastructure projects — was made to the visiting delegation on this occasion by Joint Executive Director, Udyog Bandhu and Special Secretary, Infrastructure Development, Kaushal Raj Sharma.

Encouraged especially by Expressway, Airport and other Public Private Partnership (PPP) projects proposed and under implementation, President, USIBC, Ron Somers enquired if US companies would be eligible to bid in these projects. IIDC, Anil Kumar Gupta informed him that since the developers need to have working experience in India, US companies could partake by forming Special Purpose Vehicle with Indian developers.

Speaking on the universal hunger for energy, Ron Somers said that passing of Indian 'Liability Bill' was essential for real fructification of Indo-US nuclear deal. The Indian States could then procure power from nuclear power plants irrespective of their location within India, thereby easing the process. He asked if the UP State government had funds to invest in power projects. Officiating Chief Secretary Alok Ranjan informed that state's equity was in the form of land only.

Responding to government steps to promote IT industry, Ajay Banga and Ron Somers informed that under the 'Defense Offset' policy of Government of India, USD 3 billion of American companies were waiting to be invested in defense and security related fields. They said that State government can coordinate with Central government to facilitate investment of this money in civil aviation and IT based police and security modernization, bringing in modern technology. Officiating Chief Secretary took note of the suggestion and said that immediate action could be initiated for this purpose.

Ron Somers applauded the efforts of the state government to improve the trade and business environment, he however, hoped for an approach of faster reforms and transparent processes to excite and attract US companies. (IPA Service)