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2010-10-28

US JV with Indian SMEs?

There is need for increased economical and technical co operation across countries

The US is unswerving towards forming stronger bond of cooperation between the small and medium enterprises (SMEs) in India and US, Director General and Assistant Secretary, US Foreign Commercial Service, US Department of Commerce, Suresh Kumar told media on the precincts at a CII's SME meet in New Delhi on Tuesday.

Kumar further added, "We are looking to understand what are the products you need and to connect those with technology with partners for both joint venture (JV) partnerships as also for distributes, wholesaling arrangements."

"The bottom line is that by continuing to strengthen the US-India trade relationship, in key sectors such as infrastructure, transportation, and health care, we can stimulate job growth in both the United States and India."

"This is evidenced by last month's visit of Under Secretary of Commerce Sanchez, my visit with 36 U.S. SMEs in India looking to forge partnerships with Indian firms, and the visit next month of President Obama, accompanied by our Secretary of Commerce and a business delegation from the U.S," Kumar said in his address.

He said, "US needs to be innovative and make cost-effective products to be able to enter the international markets. Green and Clean Energy, Infrastructure development, Broadband Services, Railways, Airports, and education are some of the important areas of collaboration where both countries can benefit."

Conseting with him Minister of Micro, Small and Medium Enterprises (MSMEs) Dinsha Patel said, "I am sure that the SMEs would assume a top priority during the US President Mr. Barack Obama's visit to India, early next month and the linkages would be strengthened."

He stressed on the need for increased economic and technical cooperation among SMEs to become competitive.

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