NEW DELHI, March 30: The opposition leaders in the country have assured us of an end to the political uncertainty prevailing in the country, said Howard L Clark, chairman of US-India Business Council and vice chairman of Lehman Brothers, here on Monday.He was speaking at a meeting organised by the Confederation of Indian Industry (CII).
Clark is leading a high-powered business delegation comprising top executives of US-based companies such as Tenessee Valley Authority, Enron International and Merrill Lynch International. The 16-member delegation is the first major business group to visit India after the installation of the new government.
The team has already met the union ministers of power, commerce, the Reserve Bank governor and the Sebi chairman. The response at the meetings, according to Clark, has been positive.
The delegation will also be calling on the union finance minister soon.The focus of the team will be on policies relating to power, energy, insurance and broadcasting sectors, statedClark.On the subject of broadcasting Clark said that though there was no representative from that particular sector in the current delegation yet it would take up the issue seriously.
Speaking on the occasion Dean O'Hare, chairman-elect of the council and chairman and chief executive officer of Chubb Corporation, said that the Indian government appeared to be just as committed as its predecessors to economic reforms and to co-operation with American investors. "Indeed, we hope that the government is taking steps to accelerate the liberalisation process", he added.
In his welcome address Tarun Das, director general, CII, outlined the key objectives of governance in terms of building up confidence both on the national as well as the international front, stability, economic growth and bringing back the `feel-good-factor'.
Das expressed confidence in the current union finance minister with regard to an early budget which will be directed towards generating demand especially by virtue of higher investment inthe infrastructure sector.Das also urged the government for an early credit policy which should entail lowering of interest rates, greater availability of credit and making loans available to small and medium sized companies.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
