Delhi, ; Dr Lalit Bhasin, Managing Partner, Bhasin & Co, Advocates, and an eminent lawyer with 60 years of standing in the legal profession is elected as the National President of Indo-American Chamber of Commerce (IACC). A well - known name in business and social circles, Dr Bhasin, before being elected as the National President of the prestigious body unanimously, was the Executive Vice President of IACC. Dr. Bhasin is the 54th National President of IACC, which was set up in October 1968 and is headquartered in Mumbai, having 14 offices all over India, with a large membership from large, medium and small business entities.
“I am privileged to lead the IACC at a time when the Indo-US partnership is poised to leapfrog in many areas and directions thanks to the direction and support being given by the leadership of Prime Minister Narendra Modi and President Joe Biden: IACC will draw strength from that rare bonding between our two countries to sharpen broad contours of engagements to take it to the next level;” says Dr Lalit Bhasin immediately after taking over the leadership of the 54-year old organization.
Dr Bhasin’s association with IACC has been long, rich and trailblazing. Dr Bhasin gave a new direction and purpose to the bilateral body by creating new and innovative pathways for extended interactions with businesses of both countries. Dr Bhasin was instrumental in giving a new meaning and purpose to the Indo-US Economic Summit, the annual signature event of IACC, which has already completed 19 editions. It is now reckoned as the most effective platform for business to business and business to government dialogues on bilateral perspectives and issues and at the same time flagging newer opportunities and challenges for furthering investment, trade and technology transfer.
To complement and supplement the multi-directional dialogue at the Economic Summit, Dr Bhasin pioneered the annual events for IACC like Indo-US Services Summit and Indo-US Legal Summit to promote track -2, dialogue in these domains, which are pivotal to add value to the growing economic partnership.
Dr Bhasin’s 60 years of eminent association with legal practice took him to several leadership positions in the profession. These include: Immediate Past President, The Bar Association of India, President, Society of Indian Law Firms, Chairman, Chartered Institute of Arbitrators – India, Honorary Life Member National Committee on Legal Services, Member, International Bar Association and Member, International Court of Arbitration Paris, an allied body of the International Chamber of Commerce Paris; among other things.
Dr Bhasin is closely associated with India’s apex business organizations like CII, PHD CCI and served as chairman of its legal committees.
Significantly, Dr Bhasin has been decorated with a number of prestigious awards for his contributions in the legal services, including Doctor of Laws (LL. D.) Honoris Causa by Jaipur University (2013), the Plaque of Honor by the Prime Minister of India for outstanding contribution to the Rule of Law (2002), the President of India’s National Law Day Award (2007).
The Indo-American Chamber of Commerce (IACC), established in 1968, is the apex bi-lateral Chamber synergizing India-US Economic Engagement. It was started by Ambassador Chester Bowles along with the then Industry leaders and visionaries for enhancing US India Economic Engagement. Today IACC has a pan India presence with 2400 members, representing a cross-section of US and Indian Industry. The major objective of IACC is to promote Indo-American business, trade, and economic relations. IACC promotes bilateral trade, investment, and technology transfer, facilitates business collaborations, joint ventures, marketing tie-ups, and strategic alliances through a set of proactive business-oriented initiatives. IACC acts as a catalyst for sustainable growth of business between India and the US. In its five decades of existence, IACC has established operational connectivity with a host of business, research, and developmental institutions in India and the US to leverage synergies and enhance Indo-US business relations. The IACC continuously interacts with the Indian and US Government officials to share member insights on cross-border trade and investment while frequently providing a forum for its members to interact with government representatives.