The Hindu Business Line : ‘India, US need to increase trade scope’

Chennai, Aug. 26 India and the US should pay special attention to infrastructure, financial services, bilateral investments and renewable energy to increase trade opportunities, according to US Commercial Consul, Ms Aileen Crowe Nandi.

Though the bilateral trade between India and the US is growing by leaps and bounds and crossed $50 billion last year, there are more opportunities that need to be tapped, she said.

Speaking at a seminar on ‘Doing business with USA’, organised by Confederation of Indian Industry (CII), Ms Nandi said there are a few challenges that need to be addressed to realise the potential. A delegation on renewable energy would be visiting India next month, which would help both countries identify possibilities for cooperation.

On their experiences in doing business in India, representatives from Ford India and Caterpillar India had similar points of view. While appreciating the conducive business atmosphere, especially in Tamil Nadu, where their companies have manufacturing facilities, Mr Nigel Wark, Executive Director (marketing, sales and service) Ford India, and Mr Larry Stacker, General Manager (supply chain), Caterpillar India, expressed concern about infrastructure, rail connectivity, storage facilities in port and employable manpower. The Vice-Consul of the US Consular Office in Chennai, Mr Paul Hinshaw, said the number of visa applications has been growing at the rate of 20 per cent every year. Chennai processed the largest number of H1B (temporary worker) visas last year.

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