The minister expressed optimism over the growing trade and investment relations between the two countries
In a meeting with Senators of different US provinces on Wednesday, Commerce and Industry Minister Anand Sharma discussed steps to enhance India-US bilateral trade, with special focus on small and medium enterprises (SMEs).
The minister expressed optimism over the growing trade and investment relations between the two countries. India and the US have introduced a mechanism to integrate small and medium enterprises (SMEs) of both the countries.
Sharma during the bilateral meeting stated, "The two countries have launched an initiative of integrating U.S. and Indian SMEs in the Global Supply Chain, which would create new opportunities for U.S. and Indian SMEs."
"This in turn will help the large firms in the dynamic U.S.-India commercial relationship through greater public awareness, enhanced public-private collaboration, and a sharper focus on the benefits of large company and SME collaboration," he added.
"While renewing the dialogue in 2010, India has placed greater emphasis on investment opportunities in both countries especially in manufacturing and in areas of high technology, emerging technologies and collaborative research," Sharma said.
India's export to US in 2010-11 (up to December 2010) US $17,629.72 million and export growth of 27.9%. Imports for the same period is US $ 13,106.98 million. Import registers the growth of -1.80 %, during the same