U.S. Consulate General Kolkata, India

August 8, 2008

“Namashkar”
Mr. Gulshan Sachdev,
Members of the American Chamber of Commerce
Friends in Kolkata

I thank you for inviting me here today.   This is my first public event in Kolkata, and I am delighted to be here with you.  You represent the hopes of the American investor community in this region, and as I begin my tour here in Kolkata, I look forward to learning from your experience and working together with you to strengthen the economic partnership between the United States and India.

I arrived in Kolkata one week ago and it’s a major change from my last assignment at the National Defense University in Washington DC, where I had the pleasure of studying national security with an Indian army colonel.  While I enjoyed the intellectual stimulation of university life, I’m thrilled to be traveling and living outside the United States once again.

The first thing I noticed about Kolkata – even from the plane – is how green it is.  Yet, it is also cosmopolitan and vibrant.  It is fascinating to watch the streams of people on the road, going about their own business with a sense of purpose.  I hope to learn about what makes Kolkata so vibrant, so cohesive and what is the secret of the city’s unique personality, in the new globalized world of mega-cities that look and feel so much alike.  Kolkata feels very much alive and I look forward to exploring it and getting to know its people.

Over the past year at university, I studied Indian history, culture and economy, and I was impressed with the economic turnaround of West Bengal.  I learned that at the time of India’s Independence, West Bengal was the most industrialized state of India.   While West Bengal experienced a period of economic decline after independence, it is exciting to see that trend reverse due to some innovative and bold policy initiatives.

I understand that this new economic dynamism is palpable in many parts of Eastern India.   Real estate is booming, per capita income is rising, investment is flowing in and jobs are growing.   Economic trends indicate that with the right policy mix, states like West Bengal, Orissa, Bihar, Jharkhand and Sikkim are poised for a bright future in the years ahead.  Many in the United States are watching this part of India and they now know that West Bengal is open for business.

I am also delighted that I have arrived in India at a time when economic cooperation between our two countries is at an all-time high.  Our bilateral trade has already reached record levels.  While Fortune 500 companies often make the front pages of the newspapers, we all know that it’s the smaller companies that provide the backbone for our increasingly intertwined commercial and trade relationship.

As you are well aware, the heightened interest in West Bengal and Eastern India has resulted in an increased number of American visitors – from government, academia and business.  In the past couple of years, the Consulate has hosted important visitors like United States Ambassador Richard Boucher, Treasury Secretary Henry Paulson and Trade Representative Susan Schwab, signaling an interest in eastern India from the senior levels of the United States government.

Many of you present here had hosted these delegations and I thank you for your encouragement and support.  The United States continues to watch the West Bengal story and we can expect more senior-level visitors in the future.

As the relationship between our countries grows more dynamic, I thank all of you for your faith in the India-American partnership.  I have heard from Henry and Aileen that Kolkata’s American Chamber of Commerce is one of the most active chapters in India.  The presence of an American Chamber chapter reassures American investors that this region is a place they can do business.  Nothing provides better business confidence to new investors than the growth of your organizations.

I look forward to hearing your experiences and I will convey your concerns and impressions to our Embassy in Delhi and back to Washington.  I am also looking forward to being charmed by the Kolkata experience- the warmth of the people, the Durga Puja, the winter festivities, the Book Fair, the cultural events, the heritage structures and everything that make Kolkata so vibrant and unique.

Thank you.

“Shobai bhaa-low tha-koon”