Financial Daily from THE HINDU group of publications Thursday, Mar 09, 2006 |
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Industry & Economy
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Foreign Trade Trade with US: India likely to overtake China Our Bureau
Hyderabad , March 8 Can India beat with China in its trade volumes with the US? Perhaps yes, says Mr R Christian M Bartley, Executive Director of World Trade Centre of the US. The key differentiators were quality and respect for intellectual property rights, he reasoned. Addressing a gathering at FAPCCI (Federation of Andhra Pradesh Chambers of Commerce and Industry) here, he said India might end up taking a larger trade pie than China with his country. Mr Bartley was part of a business delegation from the US interacting with the entrepreneurs to explore opportunities in forging joint ventures and agreements. Echoing Mr Bartley's views on advantage India, Mr Richard Stangl, Chief Executive Officer of Weimer Bearings and Trans Inc of the US, said, "We share common language and we have democratic systems. This is a big difference." Responding to these remarks, Mr B. Shankar, Chairman of Foreign Trade Committee of FAPCCI, said India had sound legal and financial systems. And hence, "We are more closer to the US," he said. He, however, felt that frequent interactions were needed between the two sides to double the bilateral trade volumes in the next three years. Ms Yen-Jung Lin, International Sourcing Director of the US-based Briggs and Stratton Corporation, said attributes such as quality, integrity and ability to respect delivery deadlines held the key. Mr Atluri Subba Rao, Vice-President of FAPCCI, said the bilateral trade stood at $21.7 billion in 2004. In the first eight months of 2005, it reached $17.2 billion.
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