The U.S. India Business Council (USIBC), a forum of companies that seek to promote business cooperation b/w the two countries, has decided to delink from the U.S. Chamber of Commerce and function as an autonomous entity.
The board of the Council made this decision after it found the Chamber’s attempt to control its activities unacceptable.
The Chamber considers the USIBC a “programme” under its umbrella, a view that the board of the USIBC found unacceptable.
The 400-member USIBC is the fastest growing segment of the U.S. Chamber, adding nearly 150 members in the last three years. Master Card, Pepsi, Lockheed Martin, Boeing and Federal Express are on the Board that decided that the USIBC must maintain its policy and financial autonomy in the face of Chamber of Commerce interference.
The U.S. Chamber houses bilateral councils for several other countries, but the USIBC and the US-China Council are the most prominent.
About the US Chamber of Commerce:
The US Chamber of Commerce is a business-oriented American lobbying group. It is not an agency of the United States government.
It is the largest lobbying group in the US, spending more money than any other lobbying organisation on a yearly basis.
They lobby for the pro-business policy and advance the business community’s interests.
About the U.S.-India Business Council:
The U.S.-India Business Council, formed in 1975, is a business advocacy organisation that enlightens and encourages private sector of both the countries, viz. India and the US to enhance investment flows. It aims to promote bilateral trade relations b/w India and the US through pro-growth policies.
The U.S.-India Business Council serves as a direct link b/w business and government leaders.
The Hindu Newspaper