US India Economic summit will be held on 27-6-2011 at Washington. It is being organised by the Confederation of Indian Industries(CII) and US based policy think tank Brookings Institution.
"Infrastructure financing needs in both countries are to be a key component of the dialogue with particular emphasis on public-private partnerships and private sector engagement in financing," said CII.
The day-long conference would include sessions on India's economic potential, Indian financial markets, and availability of finance for infrastructure development in the South Asian economic giant.” Indian Finance Minister Pranab Mukherjee, Meera Shankar, Indian ambassador to the US, UK Sinha, chairman of the securities and exchange board of India, R Gopalan, secretary for economic affairs, Kaushik Basu, chief economic adviser to the Finance Ministry, and Subir Gokarn, deputy governor of the Reserve Bank of India are participating on behalf of India.
From the US side, senior officials of the Treasury department, including Lael Brainard, under secretary for International Affairs, Charles Collyns, assistant secretary for International Finance, and Barry Gray, senior adviser in the office of technical assistance, will address the conference.
"The CII conference would advance the role of the private sector in US-India bilateral economic partnership," said Chandrajit Banerjee, CII director general.
The U.S. Treasury Under Secretary Lael Brainard, talking to a select group of journalists, spoke about the need for more competition and openness in sectors such as banking, insurance, pension products and, most importantly, multibrand retail.
Therefore the Indian big capitalists in collaboration with foreign capitalists want to enter in a big way in pension, insurance, banking and retail trade sectors in India and for this purpose they are creating pressure on the Government. The US-India Economic Summit is a part of this pressure.
The UPA Government already increased petroleum andcooking gas prices several times and now increased even the price of kerosene imposing a big burden on the people. Now the Indo-US Economic summit is aiming to privatise pension and allow foreign capital in a big way in Banking, pension and retail trade sectors. This indicates that a serious attack is going to be there on the people of India, for the profit of foreign and Indian big Corporates. This has to be resisted and defeated to save the future of the people of India.