The Federation of Andhra Pradesh Chamber of Commerce and Industry (FAPCCI) organized a Press Meet on “Obama’s Visit – Strategic and Economic Significance” on November 9, 2010 at 5.00 P.M. at Surana Udyog Auditorium, Federation House, Red Hills, Hyderabad.
Dr. S. K. Rao and Dr. R. Srinivasan, alongwith Mr. Shekhar Agarwal, President, FAPCCI, Mr. V. S. Raju, Senior Vice Presidnet, FAPCCI, Mr. M. V. Rajeshwara Rao, Secretary General, FAPCCI and Mr. V.V. Sanyasi Rao, Chairman, Rural Development & Consumer Relations Committee, participated in the said press meet.
The significance of Obama’s visit to Andhra Pradesh is that it will benefit the I.T. Sector, Pharmaceutical/Bulk Drug Industry, Agricultural Sector, Monsoon forecasting with the availability of the latest technology relating to the above industries. By lifting of sanctions, defense production will increase and subsequently business opportunities for DRDO, ISRO & DRDL and other such defense organizations in Andhra Pradesh and also all over the country. U.S. will cooperate with India in the green revolution and for making available latest technology available for monsoon forecasting.
U.S. will support India in becoming a permanent member of U. N. Security Council. It will also support India for membership in multilateral export control regimes such as the Nuclear Suppliers’ Group.
China is a big dictatorship and a threat to U.S. Since both U.S. and India have democratic set up, to counter it, U.S. will join hands with India. With this visit, Indo US trade volumes will go up. The consensus of the speakers was that the visit by Mr. Barack Obama, President of U.S. is of utmost importance and FAPCCI was appreciative of initiative taken by the President Obama in having more business with India.