The 45th annual meeting of the United States India Business Council (USIBC) will be marked with the 2020 India Ideas Summit. In 2020 summit will be held virtually on 21st and 22nd July. During the Summit, different sessions are organized, with each session focusing on a particular issue related to India and their foreign policy. In every session leaders, diplomats, scholars, senior executives of business companies, think tanks are invited to share their thoughts and opinions each other.
On a yearly basis the Summit is being organized by the USIBC (United States India Business Council). The USIBC summit is conducted to showcase the importance of the positive outcome of the India-United States of America economic partnership and the overall bilateral relationship between the two countries. The summit is an outcome of the joint efforts of the United States of America Chambers of Commerce and United States India Business Council.
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Last Year India US Ideas Summit was organized at the US Chamber of Commerce at Washington D.C on 12th June. Mike Pompeo (US Secretary of State) addressed the 44th summit.
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Focus of the 2020 Summit:
Following the grave developments along the Line of Actual Control (LAC), one of the major discussions and focus of this summit will be on Geopolitics in the post-COVID-19 world.
Both Indian and the United States of America Government at present are looking to start their economies after months of lockdown with revised strategies for businesses, the focus will be on the importance of re-establishing trade between both the nations, digitization, equitable growth, the future of healthcare system post-COVID-19, etc.
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History of US-India Business Council:
The U.S.-India Business Council (USIBC) was formed in 1975 as a business advocacy organization to enlighten and encourage the private sectors of both India and United States to enhance investment flows. The organization serves as a direct link between business and Government leaders, resulting in increased trade and investment to strengthen ties between the two nations.
USIBC partners with the major trade associations in India:
- The Confederation of Indian Industry (CII),
- The Federation of Indian Chambers of Commerce and Industry (FICCI),
- The American Chamber of Commerce in India (AmCham India),
- National Association of Software and Services Companies (NASSCOM),
- The Indus Entrepreneurs (TiE), and The Indo-American Chamber of Commerce (IACC).
On November 28, 2017, U.S.-India Business Council (USIBC) announced a collaborative initiative titled Women for Women Innovators, Social Leaders, & Entrepreneurs (WISE). This announcement was made during USIBC’s Road to Global Entrepreneurship Summit (GES) event, Creating the Foundations of Innovation in Hyderabad. The objective of the WISE initiative is to offer leadership, mentoring, and development opportunities for women entrepreneurs and innovators. This initiative will be led by women leaders and entrepreneurs including Kiran Mazumdar Shaw, Chairman and Managing Director of Biocon Limited, Nivruti Rai, Country Head of Intel India, and Vice President of Data Center Group and Vanitha Narayanan, Chairman of Intel India.
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USIBC currently has twelve Executive Committees, covering every major business sector, List
- Aerospace & Defense
- Digital Economy/IT
- Energy, Environment & Enterprise
- Financial Services
- Food & Agriculture
- Legal/Professional Services
- Media & Entertainment
- Life Sciences
- Real Estate
- Retail Trade
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