India-US ties can create more jobs: Indra Nooyi

MUMBAI - PepsiCo chairman Indra Nooyi, ranked among the most influential global business leaders, Saturday said deeper ties between Indian and US companies can actually fuel job creation for both sides, than impact adversely.

A key member of the 200-plus American business delegation that is accompanying President Barack Obama on his four-day India visit, Nooyi said the two sides should collaborate thoughtfully to tap the huge potential for bilateral trade and investment.

“I am particularly pleased during this visit the president has taken the opportunity to reach out to business leaders from both countries,” she said ahead of a series of events here coinciding with Obama’s visit.

“I view that as a very positive step and as a clear sign that the president recognises and appreciates the important role businesses play in driving sustainable growth,” she added.

“The size and growth rate of India’s population alone and the demographic dividend it represents, both of these make India a terrific business opportunity for the United States.”

Nooyi’s remarks came against the backdrop of voices of protest in the US over market access for American goods and services in India as also against outsourcing of jobs overseas to companies in India and elsewhere.

Trade between the US and India more than doubled to $37 billion in 2009 compared with 2003, according to data available with the US Commerce Department, which has also been worried over the trade imbalance skewed in favour of India.

In the first eight months of 2010, total trade topped $32 billion.