NEW YORK, NY (TIP): The Indian American Chamber of Commerce (IACC) on Thursday, September 12, held a welcome reception and dinner for the Indian Consul General in New York, Ambassador Dnyaneshwar M. Mulay. IACC President Rajiv Khanna, extending a formal welcome, highlighted Ambassador Mulay’s career and his accomplishments. He described him as the ‘renaissance man’. “It is no secret to any of us that India is currently going through a challenging economic time. It is also no secret to any of us that the trade and economic relations between India are not currently at their finest hour.

The recent global recession has brought back the drum beats of protectionism in the United States,” he said, adding, “In these challenging times, we are very fortunate that India has sent a diplomat of the caliber of Ambassador Mulay to New York, the economic capital of this country.” Formed in 1932, The Indian – American Chamber of Commerce (IACC) works to promote trade and investment between India and the United States. “The chamber of commerce has been a close ally of India through good times and bad, from the growth rate of 3% to the high growth rate of 9.5%, through the Super 301 sanctions, the sanctions against India after its nuclear test, through controversies and tensions arising from outsourcing to India, the U.S.- India nuclear treaty, to the days of warm trade and investment relations between India and the U.S.; because it is the firm belief of this Chamber that when the world’s two largest democracies, the U.S. and India, work together in trade and investment, it will not only lead to greater prosperity for the citizens of those two countries, but it will also be a growth engine for the rest of the world,” stated Khanna.

Praising the Indian American community, Ambassador Mulay said, “It is one of the most remarkable things that has happened to India, so strong, so vibrant so resourceful and spread all across the Unites States. Rough estimates suggest there are 3.8 billion Indians, and this population has emerged as one of the richest minorities… this community is now here to play an important role now, politically in US, in terms of promoting economic relations between India and the US. I would like the Indian American community to become a bridge between the two countries, the role they have not really performed and that’s very clear from the investment figures, which is still a small figure.” When asked if there are any programs between now and elections to counteract some of the negative images – corruption, economic downturn etc.- that are in play right now, Ambassador Mulay said, “…I would like you (people) to be a little patient as all of us are with United States; we are going through rough patch but India’s fundamentals are strong.” The welcome reception to Ambassador Mulay was very well attended.