Monday, June 24, 2024

Growing recognition of Indo-US trade relations: Powell


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Guwahati: US Ambassador to India Nancy J Powell on Thursday said there was growing recognition of the importance of bilateral trade relations between India and USA.

Inaugurating the American Business Corner (ABC) here, Powell said it was the first of its kind in eastern India and would provide the North East region real time information about trade opportunities with the USA.

“Many potential opportunities can also be identified through ABC, besides recognition of entrepreneurship and the opportunities existing due to government programmes,” she said.

“The Northeast will fulfill its full potential and the USA will be delighted to be a partner in it”, the Ambassador said.

ICC North East Region chairman MK Saharia said the bilateral trade between India and USA had grown from 5.6 billion dollars in the past to 57.8 billion dollars at present and is estimated to increase to 100 billion dollars in future.

Entrepreneurs in the North East here had limited progress due to lack of opportunity and knowledge, he said adding ABC would provide opportunity to traders and investors by having with it all the necessary information and putting in touch entrepreneurs of the north east with American companies.

ABC is a collaborative effort of the US Commercial Service office and Indian Chamber of Commerce (ICC) in Kolkata as part of a MoU for establishing three such corners at ICC offices in Assam, Bihar and Odisha.

The ABC is designed to assist the US companies in promoting their brand and generating business leads from emerging metropolitan cities in India. Information on tourism and outbound investment services, as well as invitations to organise networking events are other features of ABC, US Consulate sources said.

The ABC is a value added service by industry bodies to members who seek American technologies and equipment to upgrade production capabilities, the sources said.

The US ambassador during her Assam visit met the Empowerment Grant Awardees from Guwahati-based Foundation for Social Transformation (FST). The award is given by Women’s Economic Opportunity wing of US State Department. (PTI)


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