We must have faith in India: Mulay

CGI-NY hosted by the IACC.

By Sujeet Rajan

NEW YORK: The Consul General of India in New York, Ambassador Dnyaneshwar M. Mulay, was hosted by The India-America Chamber of Commerce (IACC), at the New York Times building, in Manhattan.

Mulay, who recently took over at the Consulate from Ambassador Prabhu Dayal, was termed by the President of the IACC, Rajiv Khanna, as “a renaissance man” in his welcome remarks

“Not only is he a seasoned diplomat, having served India with distinction in Japan, Russia, Syria, Mauritius, and Maldives, he also lives up to his name Dnyaneshwar, the ‘thoughtful one,’ said Khanna, a renowned lawyer, who a partner in the Corporate Department in the New York office of Seyfarth Shaw LLP.

Over the years, the bipartisan IACC has become one of the most prominent private platforms in Manhattan for visiting dignitaries from India to address an elite section of Indian American entrepreneurs. Prior to Mulay, the BJP President Rajnath Singh, and a delegation from the party, was hosted by the organization.

“The key business approach and my focus are to make sure we have a specific agenda during the visit of ministers from India. My goal is to gather appropriate investors during the visit of power minister, coal minister or any dignitary so we can make the consulate more corporate and client friendly,” said Mulay, addressing the audience.

A poet and writer too, Mulay has written 15 books on diverse subjects ranging from those that inspire Marathi youth to the transformation of U.S.S.R. into modern day Russia. He is also known for his philanthropy, having initiated an orphanage in Pune, and an education society has been named after him there.

Talking about the economic uncertainty that has shrouded India this year, Mulay advised the audience to have “patience” with the country’s policies.

“Democracy has its own deficiencies, and while the current market sentiment for India is not the best, we must have faith. Today, we are more integrated into the world economy and we are more vulnerable to its changes,” he said.

On the FDI outflow from India, Mulay pointed out that the relationship between India and the US has acquired a “different dimension.”

“While the United States has been a major direct investor in India for a long time, we are now seeing the reverse process with investments flowing from India to the U.S. The relationship is definitely acquiring a different dimension,” he said.

In the same vein, he talked about the cross-border education prospects that India will offer to international students, in the future.

“So many Indian students are studying in the U.S., which is contributing billions of dollars to the U.S. economy. In India, we are going to open doors to foreign educational institutions. We respect foreign entities; India also always brings a fresh outlook to the table,” said Mulay.

The Deputy Consul General of India in New York, Dr. Devyani Khobragade, who took on her new job almost at the same time as Mulay did, attended the meet too.

To contact the author, email to sujeetrajan@americanbazaaronline.com

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