USIBC optimistic about security situation in India

Washington, Dec 20 (PTI) In a bid to restore investors'
confidence after Mumbai terror attacks, the US-India Business
Council (USIBC) has presented an optimistic assessment of the
security situation in India, saying it is committed to doing
trade with the country.

Government Security Officers from the American Embassy in
India today shared with USIBC member-companies a cautious but
upbeat assessment of the security situation in Mumbai, as life
in India's financial capital returns to normal.

Representatives of the Taj Group of Hotels and Oberoi
Group of Hotels, who also joined in the USIBC members-only
tele-conference, indicated that sophisticated security
measures had been put in place since the November 26 attacks
on Mumbai, reassuring future visitors and hotel guests.

The Taj and Oberoi properties will reopen for business on
December 21, it was reported, the USIBC, a premier business
advocacy group, said in a statement.

"It is a testament to the resilience and courage of the
people of Mumbai how quickly India's financial capital has
returned to normal. It is equally remarkable how India has
demonstrated such restraint in so far as its relations with
Pakistan in the wake of the Mumbai attacks. For USIBC, this
must mean a re-doubled commitment to doing business with
India," Ron Somers, President of the USIBC, said.

"The correct response to this heinous act is for the US
business community to get right back on jet planes as soon as
possible to renew our engagement and partnership with India,"
he said.

"Today's USIBC Security Assessment Teleconference
provided a unique forum for policymakers and officials from
India and the US government to identify the progress made
since 26/11 in restoring normalcy to Mumbai, while reassuring
the international business community," the USIBC said.

The organisation which has been in the forefront of
pushing bilateral economic ties since 1975 has further
reported that officials of the Indian Embassy specified that
steps were being taken to harden security across India, and
expressed gratitude for the demonstration of solidarity shown
by USIBC, which had launched the largest-ever Information and
Communications Technology (ICT) Executive Mission to India on
December 8, despite the Mumbai attacks.

"The Government of India and US Government reported that
airport security across India has been significantly
tightened. Indian officials stressed the safety of the country
for investors and tourists and have begun a systemic review
of all law enforcement agencies in an effort to revamp the
national security apparatus," the USIBC has said.

The US Embassy advised that groups and business missions
were not being discouraged from coming to India and that the
US government, for its part, was continuing to encourage
commercial activity and travel between the two free-market
economies," the USIBC added.

Meanwhile, US Foreign Commercial Service officials
indicated that investor confidence remains high, noting that
"we have not seen a slowdown, and growth will continue in
India at 6-7 percent."

The security assessment organised by USIBC, which
featured the US Embassy, Indian Embassy and representatives
from the Taj and Oberoi, will be repeated early next year to
reassure business travelers and to restore investor confidence
in India. PTI SK
PMR
NNNN