US Trade Team explores opportunities in India
14-member delegation from the USA gets encouraging response from the trade in India
Led by Francisco J Sanchez, Under Secretary of Commerce for International Trade, U.S. Department of Commerce the delegation explored the prospects in the areas of port security, maritime technology, port cleaning, refrigerated supply chain, port engineering, shipping agents, warehousing and stevedoring, port management and consulting, cargo-handling, bulk cargo container movement, systems for cargo & container tracking, and others. They held interactive sessions in the cities of Kolkata, Chennai, Ahmedabad and Mumbai with various Indian stakeholders and in some cases were able to establish business relationship with players in the Indian port sector.
Mr. Sanchez remarked, “India is emerged as economic leader. Its 1.3 billion people are among the most creative and innovative in the world. And our two countries share similar goals, expanded opportunity, greater prosperity and thriving economies. In 2011 bilateral trades in goods between India and US was nearly $ 58 billion. India will grow faster than any other country in the world in the next 20-25 years, but with the excitement causes the challenges. So does its infrastructure need to develop. The current infrastructure network isn’t strong enough to support India’s emergence. India’s businesses cannot be competitive in this environment. Investments are clearly needed that’s why I was glad to see the announcement last year by the government of India, $ 66 billion for the port sector and $ 27 billion for shipping sector. This will reportedly increase India’s port capacity from one billion tonnes to 3.2 billion tonnes by 2020. India is quickly becoming a home for the world’s capital for talent, innovation. It is a remarkably story of progress”.
The U. S. companies on this mission, many of which are new to Indian market, represented some of America’s leading port technologies. Their interest was to look for Indian partners who could help them take part in the unprecedented growth that the Indian port sector will experience in the upcoming years.
Some of the representatives stated that they were able to enter into business with the Indian companies. Rima Franklin, Director of Corporate Development, Great Lakes Dredge & Dock Company, America’s premier dredging contractor said, “I was able to meet and talk business with a lot of people and have come to the conclusion that the opportunities are good here. We need to follow up and take matters further.”
“This is my second visit to India,” pointed out Ron Popham, Principal, Trade Office, Port of San Diego. “Ours is the fourth largest container port in California. I see growing opportunities with India and our port is already supporting the National Export initiatives of President Obama and is promoting the export of automobiles, oil and gas turbines, project cargo and minerals to India, as well as the import of windmill turbine components, steel, automobiles, and project cargo from India.”
Others too expressed fruitful matchmaking exchanges that could result in deals or long lasting relationship. These included delegates from Aecom, The Beckett Group, Container Trac, Rapiscan Systems Inc, Thermo Fisher Scientific, Inc, DSC Dredge, Ellicot Dredges, Port of Baltimore, among others.