HOUSTON: US Under Secretary of Commerce
for International Trade Frank Lavin is
leading one of the largest business
development missions to India to
participate in the India Business
Summit, which begins in Mumbai from
The mission includes 238 business
participants representing 186 US
companies, according to a Commerce
Department statement released yesterday.
"With US export growth to India in
excess of 24 per cent in 2006 and
sustained annual Indian economic growth
of 8 per cent, the time is ripe for
American companies to look for business
opportunities there," Lavin said.
"The goal of the mission is to position
US firms for long-term business success
in this fast growing market so we can
expand our exports and create more
Total US exports to India in 2005 were
USD 7.9 billion, an increase of 30 per
cent over 2004. Through September 2006,
US exports have grown 24.3 per cent over
the same period last year.
Following the business summit, most
companies will continue on to spin-off
business matchmaking missions in
Bangalore, Kolkata, Chennai, Hyderabad,
Mumbai, and New Delhi.
The US Commercial Service is arranging
market briefings, networking receptions,
and one-on-one business appointments
with prospective agents, distributors,
partners, and end-users for each US
The mission stems from a commitment by
President George W Bush to elevate the
Commercial Dialogue during his March
2006 visit to India.
"India is now at a transformational time
in its economic development and the
economic reforms India has made in the
last few years have seen an improved
business and investment climate," Lavin
"There is much more that can be done and
I will use this mission to continue our
Commercial Dialogue with India to knock
down barriers to trade and investment."
The trade mission represents a diverse
range of industry sectors, with the
greatest participation from
information technology companies,
energy/power/oil and gas companies, and
There are participants from 35 US
states, the District of Columbia, and
from outside the US within the US,
California, Texas, the District of
Columbia, Virginia, New Jersey, New York
and Pennsylvania have the largest number
Businesses of all sizes will be
participating, but small firms comprise
68 per cent of the mission.
"This delegation promises to be the
largest ever US Trade mission to India
and participants will have access to
India's high-level business, industry,
and government representatives and
opportunities to gain insights into the
country's trade and investment climate
during strategic breakout sessions,"
Jagdip Ahluwalia, executive director of
the Indo American Chamber of Commerce of
Greater Houston (IACCGH) said.