FOX Business Network's Shibani Joshi on U.S.-India Relationship

This is a rush transcript from "America's News HQ," November 26, 2008. This copy may not be in its final form and may be updated.

HEATHER NAUERT, HOST: Target: Mumbai. It is India's financial capital, and India is the largest democracy in the world. So, do United States relations with India perhaps play a role in this?

FOX business news' Shibani Joshi is here tonight.

Shibani, you also grew up in that area, and have a lot of family and friends over there.

SHIBANI JOSHI, FOX BUSINESS NETWORK: Yes.

• Video: Watch Heather Nauert's interview

NAUERT: So, what can you tell us about the U.S. relationship with India in terms of promoting a democracy and how perhaps that might have made us a potential target?

JOSHI: Well, you know, certainly, India has been a very pivotal ally in the war against terror and certainly been a big ally in what's going on with Pakistan and Afghanistan and what's probably been going on in that arena. But really, it's also been a capitalistic sort of commercial ally as well. There are many of the biggest companies around the globe that are headquartered there. You walk down the streets of India and you see Coke, Pepsi, MacDonald's, Pizza Hut — everything that we know and love, you know, we know, love, and consume also are being consumed by Indians.

So, certainly, something and you are seeing a crossover not only in terms of relationships on the political level, but also on the business-commercial level. And certainly, what you're seeing is it makes India more susceptible as a target because there is so many crossover, not only of U.S. brands, but also U.S. people, U.S. citizens that are living and working in India, working for American companies.

NAUERT: You know, when you talk about American companies doing business in places like Colombia, or Brazil, you hear often about: they have kidnap-and-ransom insurance; they have bodyguards because they can be very risky places to do business. What about in India? How up to speed are companies in terms of protecting its employees on the ground there?

JOSHI: Well, I can't tell you from recent experience but I can tell you about a previous experience I've had. My parents were born and grew up in India. They came here to the United States. They worked from a huge multi-national company, Lucent Technologies. They went back to India and worked there about 10 years ago. There was not such a thing as ransom insurance. Most U.S. companies, when you go to India, are more worried about bribery and under the table sort of transactions.

Really, India is considered a safe country, a safe country to do business in, a safe country to travel in. Certainly, what we're seeing now is really putting a lot of questions in people's heads. I travel to India almost every single year. I stayed at that Taj Hotel. I stay there about two years ago. It worries even people like me.

NAUERT: Yes. And this was a place where there were a lot of westerners, a lot of western businessmen and women.

JOSHI: Yes.

NAUERT: . getting together, and as I understand, a popular time of year for tourists to enjoy in the area.

JOSHI: Yes.

NAUERT: What about — we're hearing about this uptick in attacks in your home country. Islamic fundamentalists, is that something you would hear about much there?

JOSHI: I'm sorry?

NAUERT: Do you hear about Islamic fundamentalism much there?

JOSHI: You know, it's something that you certainly have in the back of your mind. You know, this is something that has been in a part of the country's history ever since the partition as your previous guest mentioned. But life happens as it does. India is a strong, vibrant country, a strong country. It's not something that keeps people from living their lives.

NAUERT: OK. Shibani Joshi from the FOX Business Network, thank you so much.

Content and Programming Copyright 2008 FOX News Network, LLC. ALL RIGHTS RESERVED. Transcription Copyright 2008 ASC LLC (www.ascllc.net), which takes sole responsibility for the accuracy of the transcription. ALL RIGHTS RESERVED. No license is granted to the user of this material except for the user's personal or internal use and, in such case, only one copy may be printed, nor shall user use any material for commercial purposes or in any fashion that may infringe upon FOX News Network, LLC'S and ASC LLC's copyrights or other proprietary rights or interests in the material. This is not a legal transcript for purposes of litigation