360° Coverage : Enormous potential seen for India-US trade growth

Enormous potential seen for India-US trade growth

Washington, Dec 7 (IANS) Despite some recent concerns on both sides, representatives of US business and industry are agreed that there is enormous potential for growth in India-US trade and notably job creation in both countries.

Dec 7 2013, 12:54am CST | by IANS

Washington, Dec 7 — Despite some recent concerns on both sides, representatives of US business and industry are agreed that there is enormous potential for growth in India-US trade and notably job creation in both countries.

This appeared to be the consensus emerging from a roundtable hosted by Ami Bera, the lone Indian-American member of the US House of Representatives, here Thursday for members of the US-India Business Council (USIBC) and the Confederation of Indian Industry (CII).

More than 40 representatives from several industries including technology, manufacturing, agriculture, retail, hospitality attended the round table, according to a statement issued by Bera's office.

"As the world's oldest and largest democracies, the US and India are natural allies," said Bera, who is also a member of the House Foreign Affairs Committee, sharing the insights gained from his recent trip to India.

"Our countries must work together to continue to grow our economic partnership and trade relationship."

"Relations between India and the United States have never been stronger," said India's chargé d'affaires Taranjit Singh Sandhu. "Deepening of India-US economic partnership anchors India's strong relationship with the United

States."

"All agreed that the potential for growth - and notably job creation - in both countries is enormous and that the US and Indian governments remain committed to strengthened two-way trade," said USIBC Executive Vice President Diane Farrell.

"The US-India partnership has undergone a fundamental transformation over the past two decades," said Sandhya Satwadi, Director and Head, CII-North America.

"While there are some immediate challenges on both sides, often times the cacophony surrounding short term concerns drowns out the reality of the strength of the partnership," she said.

There are emerging opportunities in sectors like health, clean energy, defense, infrastructure, and agriculture that require renewed focus and engagement from both sides, Satwadi said.

(Arun Kumar can be contacted at arun.kumar@ians.in)

IANS

Source: IANS

 
 
 

blog comments powered by Disqus

Latest stories

Need for Speed Reboot is Coming This Fall
Need for Speed Reboot is Coming This Fall
EA will release a complete new Need for Speed this fall. The video game giant just released a teaser video and the first Need for Speed Gameplay video will be revealed in June.
 
 
Google Self-Driving Cars to Hit Public Roads this Summer
Google Self-Driving Cars to Hit Public Roads this Summer
Google announced today that Google Car prototype vehicles will leave the test track and hit the familiar roads of Mountain View.
 
 
Google Search Analytics Launched in Web Master Tools
Google Search Analytics Launched in Web Master Tools
Google officially announced the new Search Analytics feature in Webmaster tools.
 
 
T-Mobile Hits Verizon with new 'Never Settle Trial' Campaign
T-Mobile Hits Verizon with new 'Never Settle Trial' Campaign
In case customers don't feel satisfied, T-Mobile will pay for them to shift back to Verizon