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U.S.-India Commercial Dialogue

Formation of and Terms of Reference for the United States-India Commercial Dialogue

Signed, Hon. William M. Daley, U.S. Secretary of Commerce and H.E. Murasoli Maran, Indian Minister of Commerce & Industry
New Delhi, India
March 13, 2000

WHEREAS the further development and strengthening of commercial, trade and investment ties between U.S. and Indian private sectors are shared objectives;

RECOGNIZING that dialogue by the public and private sectors of the United States and India will promote mutual understanding and identification of ways to foster the growth of commercial ties between the U.S. And Indian private sectors;

RECOGNIZING that the United States and India are actively encouraging and working to assist their respective private sectors to develop closer business relations and increase trade and investment between the two countries;

NOTING that this development and cooperation will be best enhanced through an organized and regular dialogue that engages both the public sector and private sector;

DESIRING to implement the Indo-U.S. Commercial Dialogue envisaged in the statement "India-U.S. Relations: A Vision for the 21st Century" made by the Prime Minister of India and the President of the United States of America on 21st March, 2000 at New Delhi;

BE IT RESOLVED that the United States-India Commercial Dialogue is hereby formed and organized pursuant to the Terms of Reference set forth below:

These Terms of Reference are intended to provide a general framework to guide the development and maintenance of a public sector-private sector dialogue on commerce between the United States and India. This public-private sector dialogue is envisaged to be an element of a broader economic/commercial dialogue between the two governments.

I. Organization of the Commercial Dialogue

A. The Dialogue is a cooperative undertaking to facilitate regular discussion to deepen ties between the Indian and the American business communities. The Dialogue will encompass regular government-to-government meetings to be held in conjunction with private sector meetings. Its aim will be to (a) facilitate trade (b) maximize investment opportunities across a broad range of sectors, including information technology, infrastructure, biotechnology, and services.

B. This will be a forum where emerging issues affecting bilateral trade may also be discussed. If a consensus emerges from these discussions that mutual interests warrant a more detailed discussion or study of any specific issue, the participants in these discussions may approve such activities, including the convening of subcommittees to pursue specific projects or sectoral interests of mutual concern. Information about any proposed endeavor will be widely disseminated and made available to interested business and non-governmental organizations and their members.

C. To ensure regularity in the conduct of the Dialogue, the U.S. Department of Commerce and the Indian Minister f Commerce will maintain close contact with their private sector enterprises and business associations that are engaged in relevant activities to bring U.S. And Indian business representatives together. This will enable the U.S. Department of Commerce and the Indian Department of Commerce to identify, at the beginning of each year, meetings and other events where a substantial number of U.S. And Indian business representatives are expected to participate and where U.S.-India commerce is likely to be a prominent part of the program. The participation of small and medium-sized enterprises will be encouraged. Officials from other government agencies also may participate in the Dialogue.

D. The U.S. Department of Commerce and the Indian Department of Commerce will communicate at the beginning of each year about, and agree upon at lease one venue for, conducting a public-private sector dialogue session. They reserve the option to hold sessions on other occasions such as state or official visits.

E. The U.S. Department of Commerce and the Indian Department of Commerce will then consult with the organizers of the meeting/event regarding their interest in having a Dialogue session associated with their program.

F. In general, the commercial dialogue will take place through government-to-government meetings led by the U.S. Secretary of Commerce and the Indian Minister of Commerce & Industry or their designees and followed by joint government-private sector meetings.

II. Operational Provisions

A. Within 90 days of the signing of these Terms of Reference, the U.S. Department of Commerce and the Indian Department of Commerce will consult and develop a plan and procedures to implement these Terms of Reference. At these organizational consultations, they may also agree to schedule an inaugural dialogue session with the private sector to be held at a future date and to authorize any other specific undertakings, including the convening of subcommittees to deal with specific projects or sectoral interests of mutual concern.

B. When the discussions and any related activities warrant, the private sector participants in a specific meeting may assemble a report and/or recommendations to be provided to the United States Government and the Government of India through the U.S. Department of Commerce and the Indian Department of Commerce and to appropriate business organizations with interest in these discussions.

C. The undertakings of either the United States or India pursuant to these Terms of Reference are contingent upon the availability of funds and subject to the laws and regulations of the United States and India.

D. The Commercial Dialogue will be reviewed after two years from the date of the signing of the Terms of Reference. At that time, the governments may consider whether the dialogue fostered by the Commercial Dialogue has been useful, whether its mandate should be renewed and if so, whether the Terms of Reference should be modified.