Indian delegation welcomes US strong desire to enhance trade

Washington: In a move to strengthen bilateral relationship by enhancing trade and investment, a delegation of Indian importers has welcomed the strong desire of the US to expand the business opportunities with India.

A 12-member delegation of US India Importers' Council (USIIC), led by its chairman Milan Zatakia concluded their first trade mission to the US last week during which they met US officials and businessmen in Washington, New York and Maryland.

Charles Ford, Director General, US and Foreign Commercial Service and Milan Zatakia signed a Memorandum of Understanding at Department of Commerce, to extend India International Trade Administration's Global Buyers Initiative, a media statement said.

Appreciating the US Government's positive response, the USIIC's founder directors, Milan Zatakia, M J Rai and Saurabh Sonawala said in a statement that they were encouraged and impressed by the openness and positive attitude with which they were received here and they welcomed the US strong desire to boost bilateral ties through increase trade.

To increase US-India trade and investment in the areas of goods, services and technology, the delegation had extensive discussions with the India desks at the US Departments of Commerce, State and Defense, as well as the US Exim Bank, on ways to further encourage trade between the two countries.

The delegation made suggestions based on their own practical experiences in business and understood the steps being taken by the US Government to reduce the remaining barriers to trade on both sides.

Besides meeting Michael Froman, Assistant to the US President and Deputy National Security Advisor, the delegation was hosted by Maryland Governor Martin O'Malley at a breakfast meeting at the Governor's Mansion in Annapolis.

USIIC had earlier signed an MoU to boost bilateral trade with the state of Maryland during the Governor's visit to India in December, 2011.

In Baltimore, the Maryland Department of Business & Economic Development had organized a full day one-on-one meetings between the delegates and Maryland businesses.

These ranged in size from start-ups to large established companies and covered the fields of technology, ports, logistics, agriculture, biotech, media etc.

USIIC expects that delegates will be able to establish several new business relationships as a result of these meetings, the media statement said.