USIBC Hopeful That India Will Assume 'Leadership Mantle' in Doha Outcome July 25, 2008

To: NATIONAL EDITORS

Contact: Anku Nath of the U.S.-India Business Council, +1-202-463-5528, anath@uschamber.com

WASHINGTON, July 25 /PRNewswire-USNewswire/ -- The U.S.-India Business Council (USIBC) remains optimistic that trade negotiators will achieve a breakthrough in this week's World Trade Organization (WTO) Doha Round Ministerial in Geneva. USIBC member-companies strongly believe that if exemplary leadership is provided by India, the U.S., the EU, and Brazil, then securing an ambitious agreement will be possible. USIBC has called upon negotiators to step to the plate to successfully conclude the Doha Round at this critical juncture.

Doha Round negotiations of the World Trade Organization have entered a critical phase centering on the G-7 group of countries. Indias Minister of Commerce & Industry and top trade negotiator, Kamal Nath, has expressed optimism that the so-called development round will conclude successfully to the benefit of hundreds of millions of the worlds poor. Similarly, U.S. Trade Representative Ambassador Susan Schwab and other G-7 leaders have pledged their commitment to presenting ambitious offers in agricultural subsidies and industrial tariffs.

As a leader in the international economy, and a voice for the developing world, India will pave the way for the execution of a socially-responsible and commercially-significant agreement that will reduce barriers to global trade and investment.

USIBC President Ron Somers noted that Indias emergence as a global power underscores the fact that its leadership must now be at the forefront of every major multilateral issue faced by governments and companies. Indias experience with economic liberalization supports the very goals contemplated by the Doha Round. Minister Nath has within his grasp the ability to move rapidly to deliver for his countrymen and for the world a roadmap for international trade that will generate prosperity for generations.

USIBC launched its U.S.-India Strategic Trade Initiative in 2007 - committed to enhancing U.S.-India trade and investment. The initiative seeks to reduce barriers to bilateral trade and investment in a manner that is socially-sustainable, such that the citizens of both the U.S. and India benefit.

The U.S.-India Business Council (USIBC), formed in 1975 under the aegis of the U.S. Chamber of Commerce, is the premier business advocacy organization representing 280 of the largest U.S. companies investing in India, joined by two dozen of India's largest global companies. USIBCs mandate is to deepen U.S.-India commercial ties. The U.S.- India Business Council celebrated its 33rd Anniversary on June 12, 2008, with its Chairman, Indra K. Nooyi, advocating for a successful outcome at Doha. www.usibc.com

SOURCE U.S.-India Business Council

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