Painting a buoyant picture of the Indo-U.S. trade ties, Jennifer McIntyre, Consul-General of the U.S. Consulate General in Chennai, has said the bilateral trade in goods and services between the two countries has increased by four-and-a-half times in the last decade.
Addressing members of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) here on Thursday as part of an initiative titled ‘Doing business with the U.S.’, Ms. McIntyre pointed to statistics showing trade between the two countries is on an upward trajectory. “Trade between the two countries is expected to cross $100 billion and economic ties are at an all-time high. American firms generated 3.55 lakh jobs in India between 2007 and 2011, and India is the fourth fastest growing source of foreign direct investment (FDI) in the U.S.”
According to her figures, U.S. exports to India have gone up by four times and exports to the U.S. from India have gone up by 1.8 times. She said that despite these encouraging developments, India was still only the 13th largest trading partner for the U.S. “Given the size of our economies, we have enormous untapped potential before us,” she said.
Chosen excerpts by Job Market Monitor