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Business team to lobby for lifting of sanctions

The Indo-US Joint Business Council will sponsor a delegation to the United States, between June 4 to June 11, to lobby for the early lifting of sanctions imposed on India, and for non-implementation of the threat to revoke India's Most Favoured Nation status.

The JBC has, towards this end, already taken up an office in Capitol Hill, Washington, to monitor developments and keep in touch with US companies, in order to coordinate lobbying with the US government.

JBC chairman N Shankar told a media conference that the delegation's visit would coincide with the annual general body meeting of the Indo-US Business Council based in the States. The body brings together 300 large and medium companies in the US, and the timing of the delegation's visit to coincide with the AGM thus assumes significance.

Members of the delegation will take the opportunity to brief CEOs of the 300 companies about India's security compulsions and, further, to impress on them the mutual disruption in trading patterns in both countries, arising out of the sanctions.

Shankar said apex business bodies like FICCI and ASSOCHAM have already received feedback from US companies and banks operating in India about the difficulties they are facing on account of the sanctions.

UNI