The largest-ever business delegation from US is being brought to the Vibrant Gujarat 2015 investor summit that begins here Sunday, the US-India Business Council (USIBC) announced Thursday.
The seventh edition of India's largest investor summit will see Prime Minister Narendra Modi, US Secretary of State John Kerry and UN Secretary General Ban Ki-moon attending the event with corporate honchos and CEOs from leading global companies.
Mastercard CEO and president Ajay Banga, who is the USIBC chairman, will lead the executive business delegation from the US, which includes several Fortune 500 CEOs and senior executives.
"This time, the USIBC delegation to Vibrant Gujarat is three times larger than the last summit, which shows the sizable interest US has in participating in India's growth," USIBC's acting president Diane Farrell said here.
A heavyweight government delegation led by US Secretary of State John Kerry will also be here for the summit.
This year's Vibrant Gujarat Summit will be inaugurated by Modi, who had initiated the summit idea in 2008 when he was chief minister of Gujarat.
The US delegation comprises top business leaders, including Ellen Lord, CEO, Textron Systems, David Farr, CEO and chairman of Emerson Electric, Jaspal Bindra, CEO Asia and group executive director, Standard Chartered and Chris Hagedorn, group executive and chief development director, Peabody Energy, said the USIBC, which is a partner in the Vibrant Gujarat summit this year.
Few of the other top global companies that are part of the USIBC contingent include Westinghouse Electric Company, Yum! Brands, Ford Motor, Abbott Laboratories and Pfizer, a USIBC spokesman said.
"President Obama and PM Modi's shared vision of inclusive growth has led to a definitive spike within the business communities. With the second bilateral meeting scheduled in a short span of four months when President Obama comes in as the chief guest for India's Republic Day, the signals to expand trade between our two great free-market democracies have been the strongest ever," Farrell said
Top Indian industrialists including Mukesh Ambani of Reliance Group and Rattan Tata are expected to attend the summit.
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