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Edison, NJ- AICC President Seema Singh and the AICC Board of Directors along with all the AICC Members welcomed the New Consul General of India in New York – The Honorable Ambassador Mr Prabhu Dayal at the AICC Networking Nite held on Wednesday, February 25th, 2009 held at the Royal Albert’s Palace in Fords, New Jersey.

Speaking to a gathering of over 100 local businessman of South Asian origin, Mr Prabhu Dayal in his detailed presentation covered various aspects of US-India relations, both in the political and economic spheres. He underlined the fact that our two countries are the greatest democracies in the world and that they are also secular, tolerant, multi-ethnic, multi-cultural, multi-lingual, multiracial and multi-religious societies. He emphasized that the biggest challenge which India and US face today is on account of terrorism, adding that the terrorist attacks in Mumbai were not merely an attack against Indians, but against Westerners, including US Nationals. He stated that the terrorist  groups which  had sent the attackers to Mumbai were the enemies of both India and the US and that it is in our common interest to eliminate the camps in Pakistan where such terrorists are trained because these entities are enemies of the entire civilized world.

  Mr. Dayal then spoke of Indo-US economic relations pointing out that in 2008 India’s imports from US were $18.6 billion and exports were $ 25.7 billion respectively. He said that there is considerable scope for the growth of bilateral trade and investments. He added that there is a need for both sides to re-energize bilateral economic activity, especially in the wake of the global economic slowdown. He stated that the slowdown, which had stated in the US and Europe has affected all countries in the world. However, in spite of the slowdown, India’s economy is expected to register a growth of 7.1% during 2008-09 as against over 9% in the previous year. India has withstood the economic slowdown better than most countries because of the inherent strength and strong foundation of our economy, our prudent monetary and fiscal policy, strict monitoring of inflationary pressures and alacrity in taking acting to counter any adverse pressures. He underlined that India remains the second fastest growing economy in the world, that it is the world’s 12th largest economy in dollar terms and the third largest in Asia behind Japan and China with a $1.18 trillion GDP. He added that in Purchasing Power Parity terms, India is the fourth largest economy, with US $ 3 trillion GDP after USA, China and Japan. India has a large and growing middle class which can afford a wide range of consumer goods and it is because of this that multinational companies around the world are seeking foothold and consolidation there.

  Mr. Dayal also answered a large number of questions from the audience covering issues such as Indo-Pak relations, Kashmir, outsourcing of work from the US to India and the world trade negotiations.

“Our Consul General’s outreach to the Members of the Asian Indian Chamber of Commerce is a big step towards strengthening ties between the Business Community in NJ and the Indian Consulate in NY,” said Seema M Singh, Esq., AICC president.   “We look forward to working together with the Consulate in providing many forums, platforms and events for the growth and advancement of Business in general between NJ and India.  We all thank and welcome Mr. Prabhu Dayal to NY and look forward to a bright future,” she added.
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