US-India Business Alliance gets new name

http://www.samaylive.com/news/usindi...me/603215.html

Washington, Jan 3: The US-India Business Alliance, a Washington-based trade organisation working towards improving economic ties between the two countries, now has a new name.



It would henceforth be called Alliance for US-India Business (AUSB).

Announcing the name change yesterday, AUSB said in a statement this will "emphasise and reflect" the growing strategic, political, economic and cultural bonds between the two countries.

"We are re-dedicating ourselves so as to remain on the cutting edge of where we need to be to offer all companies virtually a 'one-stop shop' when it comes to entering the market or expanding already existing operations, whether a large company or an SME, whether in the US or in India," said Sanjay Puri, President and CEO of AUSIB.

The US-India Business Alliance was formed in 2004. At that time the US-India trade was about USD 20 billion.

"This has since more than doubled to USD 42 billion. Along with this increased commerce, many other developments affecting business have occurred," the statement said.

With the signing of the Indo-US civilian nuclear deal, AUSB said the two countries are slowly moving toward a unique 'alliance' of shared interests.

"This emerging alliance is vital to the most important issues facing humanity - terrorism, national security, and economic development. USIBA's new name reflects the reality of this relationship," it said.