USIBC president resigns to start own strategic consulting firm

Ron Somers, who played a key role in promoting Indo-US relations and considered one of the best friends of India and Indian industry in the US, has resigned as the president of US-India Business Council (USIBC) to start his own strategic consulting firm.
In this position for more than a decade, Somers, 60, played a key role in enhancing India-US relationship, in particular the historic civilian nuclear deal, multi-fold increase in bilateral trade. He had joined USIBC, in 2004.
"The time is ripe to advance the 'two-way street' of commercial interests for both American and Indian companies," Somers told PTI.

"The over-arching goal continues to be to deepen the extraordinary partnership between these two great democracies. Business is the ballast in the relationship, and I want to be right in the middle of this next, exciting chapter," he said.
"With elections underway in India and a new government forming, this is the perfect time for me to do what I have long planned-hang out my shingle," said Somers.
"It's been an incredibly rewarding experience to lead the exceptional USIBC staff, work with an outstanding board, and advance the critical US-India commercial relationship," he said in a statement.

USIBC executive vice president and senior director Diane Farrell will serve as acting President during the search for a replacement, a media release said.

"Ron has brought incredible energy, experience, and insight to the US-India Business Council," said MasterCard Worldwide President and CEO and USIBC Chair Ajay Banga.
"On behalf of the entire board and staff, we want to thank him for his remarkable efforts and accomplishments," he added.
US Chamber Executive Vice President David Chavern praised Somers' tenure as USIBC president: "Ron has a strong record of accomplishment and has provided tremendous leadership in his nearly ten years with USIBC.
"We wish him well in his future endeavours," he added.
Formed in 1975 at the request of the US and Indian governments, USIBC today is the largest bilateral trade association in the United States, under the aegis of the US Chamber of Commerce.

It comprises of 300 of the top-tier US and Indian companies.