New Delhi (IANS): US President Barack Obama and Prime Minister Narendra Modi will give a joint address to the American and Indian business communities Jan 26, the US-India Business Council (USIBC) said Wednesday.

Besides the two leaders, the Indian government’s Department of Industrial Policy and Promotion (DIPP), the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (FICCI) would also be present on the occasion.

The USIBC said the address would be the culmination of a series of high-level engagements that the USIBC has held over the last several years.

The USIBC hosted Obama during his first visit in 2010 and Modi during his maiden visit as prime minister to the US last September.

USIBC acting president Diane Farrell said: “With business sentiment at an all-time high, the timing could not be better. We see both countries working earnestly and with a firm resolve towards achieving $500 billion in two-way trade over the next five years.”