From the US side Henry Paulson, US Treasury Secretary, Carlos Gutierrez, Commerce Secretary, Nicholas Burns, Undersecretary of State and Allan Hubbard, Assistant to the President for Economic Policy and Director, National Economic Council, were present during the event.
In a press meet Mr Kamal Nath said that Indian CEOs raised issues related to visa restrictions, difficulties faced by Indian banks in expanding branch networks in the US as well as outsourcing. The US CEOs expressed concerns over the FDI limit in certain sectors, such as insurance.
The Minister also said, “While no specific conclusions were reached, we decided to draw an institutional framework to resolve these issues.” The forum has also decided to form a committee of CEOs to negotiate with the respective Governments, so that these pending issues can be resolved.
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