Speeches & Articles

Remarks of Consul General Beth A. Payne
to the Indo-American Chamber of Commerce
September 5, 2008

September 5, 2008

Mr. Sutanu Ghosh,
Members of the Indo-American Chamber of Commerce,
My New Friends in Kolkata,
“Nomaashkaar”

Thank you for inviting me to speak to you today and I am delighted to be here with you.  I am excited to be in Kolkata at a time when ties between the United States and India have never been stronger.  The Indo-American Chamber has helped strengthen India’s economic partnership with the United States.  Thank you for being such a good friend of the United States and a strong supporter for Indian business.

In the one month that I have been in Kolkata, I have seen a strong desire for economic growth and industrialization.  I have also seen the equally strong desire to ensure that economic growth is inclusive and that it is accomplished in a way that preserves the environment and retains the special heart and soul that makes Kolkata and West Bengal unique.

Over the past 15 years, India has emerged as a strong and confident player in the global economy, an important trading partner, a major consumer of global commodities, goods, and services, and an attractive destination for global investment capital.  

India's deeper engagement with the global economy has helped propel its growth to over 8 percent rate, helping to raise people out of poverty and bringing more into India's middle class.   India's private sector is an important engine for this economic growth and expanded employment.

By taking pro-active steps to make West Bengal an attractive destination for investors, this state has demonstrated that it is ready to partner with the private sector.  West Bengal’s industrial friendly policies have opened opportunities in a wide variety of areas ranging from iron and steel, information technology, bio-technology, clean energy and tourism. 

I have met a number of senior officials from various government departments and I am impressed with the vision they have for the state and their enthusiasm and commitment to spur the economic resurgence happening in West Bengal.

While economic growth and industrialization has it challenges, I am also impressed with West Bengal’s commitment to actively confront these challenges and develop the best solutions for all of its citizens.  Rather than shrink from the downsides of industrialization and globalization, Americans and Indians increasingly view the globalizing economy as an opportunity that enables and rewards entrepreneurship and innovation. 

The private sector can help provide the creativity and innovation necessary to take advantage of economic opportunities while finding creative ways of mitigating the challenges.  By identifying and adapting to the challenges that are inevitable with industrialization and globalization, both the United States and India will continue to prosper.

I will be traveling to Orissa next week and plan to meet with IACC members in Bhubaneswar.  I am looking forward to learning from them about doing business in Orissa and how we can work together to have more US-India corporate partnerships in Orissa.
Thank you once again for a warm welcome to Kolkata and I look forward to working with all of you over the coming year to promote and strengthen the US-India partnership and to support new American businesses and Indo-US joint ventures in this region.

“Shobai bhaa-low tha-koon”