By Arun Kumar, IANS,
Washington: India’s determination to strengthen its manufacturing and make itself a hub for knowledge and innovation industries will open up untapped opportunities for greater commercial links with American states, said Indian ambassador Nirupama Rao.
Indian companies are also exploring new trade and investment links with states in the US in the energy sector, including fossil fuels and renewable, she said at an event here Friday to highlight the impact of Foreign Direct Investment from India on US states.
Reflecting the continuing transformation in India-US business ties including business links, Rao noted was a bilateral trade of $100 billion; two way investment flows; growing technology and business partnerships, and a rich cooperative agenda in a range of economic areas.
Going forward, “there is enormous scope to build business ties in the field of hydrocarbons and energy efficient technologies,” Rao said at the event organised by the Confederation of Indian Industry-India Business Forum and attended by governors of nine American states.
Similarly, US strengths in the field of agriculture can form the basis of strong mutually beneficial commercial linkages, she said.
Education, defence trade; biotechnology and pharmaceuticals etc are some other areas where there is plenty of scope to build business partnerships, Rao said.
“The Indian private sector has been the bedrock of support in our quest for new vistas to expand and deepen the India-US relationship,” she said describing it as “one of the signature elements of our bilateral ties.”
Rao expressed confidence that in their efforts to weave their businesses with local economies, Indian companies would receive the full support of governors of American states.
(Arun Kumar can be contacted at [email protected])