Forum for India-U.S. dialogue on
Financial and Economic matters established
Washington, DC
April 17, 2000

India’s Finance Minister, Mr. Yashwant Sinha, and
the U.S. Treasury Secretary, Mr. Lawrence Summers,
signed here today a document setting up the India-
United States Financial and Economic Forum. India’s
Ambassador to the U.S., Mr. Naresh Chandra, Secre-
tary (Economic affairs), Dr. E. A. S. Sarma, the Indian
Executive Directors on the Boards of the World Bank
and the I.M.F., Assistant Secretary in the U.S. Depart-
ment of Treasury and the U.S. Executive Director of
the World Bank were among those present at the
signing.

The Forum is part of the broader economic and com-
mercial dialogue between the two countries envis-
aged in the “Vision Statement” issued by Prime Min-
ister Vajpayee and President Clinton during the U.S.
President's recent visit to India.

The objective of the Forum is to strengthen the finan-
cial and economic relationship between India and the
United States through regular government-to-gov-
ernment meetings of economic policy makers. The
Forum is to be headed by the Indian Finance Minister
and the U.S. Treasury Secretary who are expected to

meet on an annual basis. These meetings are to be
supplemented by sub-Cabinet level meetings of offi-
cials of the two governments and will involve, as
appropriate, the participation of the U.S. Securities
and Exchange Commission, Federal Reserve System,
Office of the Comptroller of the Currency, Council of
Economic Advisors and, on the Indian side, the Secu-
tities and Exchange Board of India (SEBI), and the
Reserve Bank of India.

The sub-cabinet level meetings are expected to focus
on the strengthening and development of financial
services through mutual exchange of experiences on
issues relating to capital markets in the two countries
and macro-economic and investment issues such as,
structural reform, fiscal and monetary policies, and
bilateral trade issues.

After the signing ceremony, the two sides held bilat-
eral discussions in which the subject of the first meet-
ing of the Forum was also raised. It was agreed that
this meeting may be held prior to the next meeting of
the Heads of Government envisaged in the Vision
Statement.

composed for the occasion.

the new millennium.

A Season for Nonviolence

Bronze busts of Mahatma Gandhi and Kasturba Gandhi were unveiled at a colorful ceremony at
Luther King Jr. International Chapel, Morehouse College, Atlanta on April 2, 2000. The ceremony
also marked the founding of the Mahatma Gandhi's Center for the study of peace and nonviolence.

The function which marked the closing of “A Season for Nonviolence”, a campaign that high-
lighted the philosophies of Mahatma Gandhi and Martin Luther King Jr., was organized by the
Morehouse College in cooperation with the Indian American community of Atlanta.

Founded in 1867 as the Augusta Institute in Augusta, Georgia, Morehouse College is the nation’s
only private, historically black liberal arts college enrolls approximately 3,000 students.

More than 1500 people including Dr. Coretta Scott King, Dr. Arun Gandhi, grandson of Mahatma
Gandhi, Mayor of Atlanta, President of Morehouse College, Mr. Rinzing Wangdi, Consul General
of India at Houston, Mr. Anil Chowdhry, Minister (Community Affairs), Embassy of India, Wash-
ington, D.C. and Indian American community leaders from Atlanta, attended the ceremony. A 100-
member voice choir specially flown in from Los Angles for the occasion sang hymns specially

The event supported the unanimous declaration of the UN General Assembly of November 1998,
which called for a Decade of Peace and Nonviolence for the children of the world beginning with

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INDIA NEWS ¢ May-June 2000 5