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India can regain 9 growth trajectory says Mulford
Jan 09,2009 00:00
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The US Food and Drug Administration (FDA) is to have a seven-member team here soon, the outgoing US Ambassador to India, Mr David C. Mulford, announced on Friday. Speaking at a luncheon meeting, Ambassador Mulford said while FDA will set up a permanent office in Mumbai, they will also be visiting Delhi. The meeting had been organised by the Confederation of Indian Industry (CII). Speaking on the ties between India and the US, Mr Mulford said that both the countries know that the partnership will be sustained. “It will deepen and yield rich and abiding benefits as yet uncounted,” he added. The Ambassador felt that India can make an important contribution to the global economy as leading nations work together to restore growth, improve financing conditions and strengthen oversight of financial systems. “The US values India’s role and leadership in addressing the global economic slowdown,” he said. Market reforms Mr Mulford also called on the Indian Government to continue with financial market reforms and liberalisation. “India’s steps to facilitate credit and investment flows into India not only blunt the negative global financial impact but position India to regain its impressive 9 per cent growth trajectory once global conditions improve,” the Ambassador said. The Ambassador also outlined the various steps taken to further strengthen bilateral ties between the two countries. In this context, Mr Mulford said that the US Embassy and consulates in India now process 8 lakh applications annually, second only to Mexico. “In the summer of 2006, Indian citizens were waiting 187 days for a visa interview appointment, by late 2006 that waiting period was reduced to less than 10 days all over the country. The Hyderabad consulate (which opened late last year) will be the largest full service consulate opened by the US anywhere in the past 20 years. Once it is fully in operation, its presence will save approximately 1 lakh annual trips for Andhra Pradesh citizens who previously had to travel to Chennai to obtain a visa,” he said. Nuclear agreement In the trade and investment fields, links have also scaled “new heights”, Mr Mulford said. On the civil nuclear agreement, the Ambassador said that with India’s membership in the global nuclear regime, the country will now diversify and improve its energy base. “It will be a home to a vast new industry and become a world leader in the filed of civil nuclear energy, and US intends to partner this vision,” Ambassador Mulford added. http://www.thehindubusinessline.com/2009/01/10/stories/ |