Diplomacyindia.com

India should seize opportunity to become US business hub: Envoy

February 07
21:30 2018

Kolkata, Feb 7 (IANS) US Ambassador to India Kenneth I. Juster on Wednesday said India should seize the strategic opportunity through trade and investment to become a major hub for US business in the Indo-Pacific region.

Juster said the US seeks to assist India’s effort to build up “its indigenous defence capabilities as well as enhance the inter-operability of our two forces” as major defence partners in the Indo-Pacific region.

“India should now seize the strategic opportunity — through trade and investment — to become a major hub for US business in the Indo-Pacific region,” he said while addressing a session hosted by the American Chamber of Commerce (Eastern Region) and the Bengal Chamber of Commerce here.

According to him, India is in the midst of an economic surge, as it integrates more into the global economy, and the US trade and investment relationship with India continues to grow.

“Bilateral trade has gone from approximately $20 billion in 2001 to $115 billion in 2016. Of course, given the size of our respective markets, there is still plenty of room to expand these numbers,” he said.

Juster asserted there were many benefits in expanding the bilateral economic relationship and making India a regional hub for the US business.

“Increased openness to US goods and services and an expanded presence of US companies will also stimulate private sector investment in improved infrastructure and overall connectivity,” he said, adding the US companies had innovative technologies that could support India’s goal to create 100 smart cities.

“In a similar vein, we should enhance our efforts to promote connectivity within South Asia, which is one of the least economically integrated regions in the world,” he said.

Juster emphasised opening India’s market further to the US as trade and investment would spur collaboration on many emerging technologies that would “drive and protect our economies, including those related to advanced manufacturing and cyber security”.

He pointed out that the US’ environment technology could play a key role in helping India address air pollution, energy efficiency and other challenges.

The US technology could also help India address its food security and agricultural concerns, he said.

Juster said cooperation in defence and counter-terrorism had been a key pillar of the partnership between the two countries.

Elaborating further on defence cooperation, he said the US defence companies were already investing in India, producing components for complex defence systems.

“There is the defence sector, where we have gone from nearly zero sales to close to $15 billion in a decade – and this includes sale of some of America’s most advanced military equipment. We want to see this trend continue – because India’s defence needs are vast and because the United States, as a global leader in developing advanced military technology, is committed to enhancing India’s security,” he said.

According to him, India is projected to spend around $150 billion in this sector over the next 10-15 years, so the opportunity is enormous.

Juster said the US is uniquely positioned to offer India a comprehensive energy partnership in all forms of energy — coal, crude oil, natural gas and nuclear power as well as technologies related to clean fossil fuels, smart grids, energy storage and renewable resources.

“And travel, tourism and education all play critical roles in our trade relationship with India. Indeed, the U.S National Travel and Tourism Office reported almost 1.2 million Indian visitors to the United States in 2016, and this is expected to grow to 1.4 million by 2022,” he said.

“Moreover, the reported number of Indian students studying in the US in 2016 was 186,000, making India our second-largest source of international students,” he said.

Juster said the U.S Indo-Pacific strategy reflected the growing range of shared interests between the two countries and it was a natural complement to India’s “Act East” policy.

He also said that 200 American companies were operating in eastern India through direct investments.

“Last June, 10 delegates from east India were part of our India delegation to the USA Summit and we are hoping to double that number this year,” he added.

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

<

On the Eve of 30th Years of Independence of Republic of Uzbekistan, H.E. Dilshod Akhatov, Ambassador of Uzbekistan to India in conversation with Ameya Sathaye, Editor-in-Chief.

Denmark Ambassador to India Freddy Svane in conversation with Amb Pradeep Kapur & Ameya Sathaye, Editor-in-Chief

Italy india will work closely together for G20 : Italy Envoy to India

Do you know why FINLAND is ranked number ONE in Happiness index, watch this interview with Finland Ambassador to India

Exclusive Interview : H.E. Jasem Ibrahem Al Najem Ambassador of Kuwait to India speaks on India Kuwait bilateral relations

ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा 0 comment Read Full Article

H.E. Reuben Gauci, Ambassador of Malta to India speaks on India-Malta Bilateral Relations

Portugal supports India in covid crisis : Portugal Ambassador Carlos Pereira Marques speaks with Ameya Sathaye, Editor-in-Chief

Vietnam Ambassador to India, Pham Sanh Chau speaks on Vietnam support to India in tackling covid crisis

Netherlands supports India in covid crisis : Netherlands Ambassador Marten van den Berg speaks with Ameya Sathaye

Envoy Speaks : Gopal Baglay, Indian High Commissioner to Sri Lanka speaks on Bilateral relations, business opportunities, Tourism & people to people to people contacts

Kuwait reciprocates, we stand with India in this hour of crisis : Kuwait Ambassador to India

Canadian High Commissioner, Nadir Patel speaking on support to India in covid crisis

Italian Ambassador to India, Vincenzo de Luca speaking on Italy support to India in covid crisis

H.E. Mr. Reuben Gauci, Malta High Commissioner to India speaks with Ameya Sathaye, Editor-in-Chief of Malta support to India in covid crisis

Danish Ambassador to India Freddy Svane speaking on Denmark aid to India

Video Interview with Vinod Daniel, CEO, India Vision Institute, Board Member, International Council of Museums & Chairman, Ausheritage

DENMARK AMBASSADOR FREDDY SAVNE VISIT TO CORONOVIRUS VACCINE FACILITY AT HYDERABAD, A TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVT OF INDIA FOR FOREIGN ENVOYS BASED IN INDIA.

MALTA HIGH COMMISSIONER TO INDIA, H.E. REUBEN GAUCI SHARING HIS IMPRESSION ABOUT HIS VISIT TO HYDERABAD : TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVERNMENT OF INDIA FOR ENVOYS BASED IN INDIA TO UPDATE ON CORONAVIRUS VACCINE

H.E. Mr. Dinesh Bhatia, Ambassador of India to Argentina in conversation with Ameya Sathaye, Editor-in-Chief

Pictures of Formal Launch of Website Diplomacyindia.com

Exclusive Interview with Prime Minister of Guyana, H.E. Mr. Moses Veerasammy Nagamootoo during his recent visit to India.Highlights of the interview were Indian Cultural Connect, Vibrant Bilateral Ties and Cultural Connect and India’s Economic Prowess.

Video Message from Shri Prakash Javadekar, MoS (IC) for Forest, Environment & Climate Change on eve of Formal Launch of Website Diplomacyindia.com

Message from Gen. V K Singh, (Retd.) Hon’ble MoS, External Affairs to Diplomacyindia.com

WP2Social Auto Publish Powered By : XYZScripts.com