USIBC Members Bullish on India despite Uncertainty in OtherGlobal Markets
New Report Released at World IP Day Event in Delhi
April 26, 2008 –
New Delhi, India — The
U.S.-India Business Council (USIBC)
2008 USIBC Business Perception Survey
. The survey, designed by
Ernst & Young
and administered by USIBC, polled senior member-company executives to gauge theirperception of India as a destination for investment and to identify progressive steps which willfurther enhance investor interest and confidence in India.
Their overwhelming assessment:India is, and will continue to be, a premier destination for investment.
The survey findings indicate that a majority of respondents view India as an attractive investmentdestination vis-à-vis other emerging economies, with a large number of respondents rating futureeconomic growth as highly sustainable. Further, a large section of respondents answered in theaffirmative regarding their plans to invest in India in order to establish or expand their operationsover the next 5 years.Releasing the 2008 USIBC Business Perception Survey at the World Intellectual Property Day event in Delhi,
Utkarsh Palnitkar, Ernst & Young, Partner- Transaction Advisory Services and Head of Policy & Investment Advisory Services
, stated “This is animportant study. Its findings demonstrate the depth of commitment of USIBC membercompanies to India’s continued economic growth. The news is quite positive - provided that thegovernment addresses several critical issues, USIBC member company executives expect India’srobust economic growth to continue despite the uncertainties facing other global markets.”However, while the survey findings suggest that the Indian economy will continue to attractglobal investor interest, much needs to be done for it to become more investor-friendly.Respondents highlighted the need to improve the ease of doing business in India along with theneed to enhance India’s social, physical and urban infrastructure. In order to drive investorconfidence and lower the risk faced by business establishments, the survey findings emphasizedthe need to strengthen India’s intellectual property regime vis-à-vis other emerging Asianeconomies.Mr. Palnitkar went on to note “Today is World Intellectual Property Day. It’s appropriate to pointout that
the 2008 USIBC Business Perception report confirms beyond a doubt thatthe Indian government needs to further strengthen intellectual property protection
.In this area India is losing ground to other emerging Asian economies and the governmentignores this at India’s peril. The
ineffectiveness of India’s patent laws, the continuinglack of data exclusivity, and a lack of expedient and effective enforcementmechanisms are causing India to lose out when it comes to investment in R&D
. Thisshould be a wake-up call to those who assert that India’s intellectual property protections are“world class”. This cross-industry study makes it clear that this is not a view widely shared by those who make decisions about where to invest in R&D.”USIBC is working in tandem with the U.S. Chamber's Global Intellectual Property Center tostrengthen IP protection and to stem counterfeiting and piracy world-wide. The full 2008 USIBCBusiness Perception Survey is available at www.usibc.com.
U.S.-India Business Council
, formed in 1975 at the request of the Government of Indiaand the U.S. Government to advance U.S.-India commercial ties, is hosted under the aegis of the
U.S. Chamber of Commerce
. The U.S. Chamber of Commerce is the world's largest businessfederation representing more than 3 million businesses and organizations of every size, sector,and region. The U.S.-India Business Council celebrates its 33rd Anniversary at the U.S. Chamber