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World India invites investment in manufacturing and infrastructure
Commerce & Industry Minister Anand Sharma has invited members of the US-India Business Council (USIBC) and Confederation of Indian Industry (CII) to invest in Indias burgeoning manufacturing sector. In anticipation of President Obamas visit to India later this year, the sixth-ever US Presidential visit to India ''Mr Sharma called upon the private sectors of both countries to establish partnerships and commence new ventures that will demonstrate the mutually beneficial nature of the US-India commercial relationship. ''Further opening of Indias retail sector will modernize Indias farm-to-market supply chain. Such productivity will become Indias Second Green Revolution,'' the Minister said in his address to the USIBC. Mr Sharma said, ''Just as our strategic partnership has matured and grown, Indo-US trade and investment has increased dramatically over the past 20 years.'' ''We now seek collaboration focused on investment in Indias manufacturing sector and the build-out of the countrys infrastructure, shaping the country into a world-class manufacturing hub,'' he added. USIBC President Ron Somers said, ''the next phase of the trade and investment relationship will feature the innovations of the Small and Medium Enterprise sectors in India and the US, where fresh ideas and technologies will spur economic growth in both countries.'' He said these companies would become more integrated into the global supply chain in the years to come and infuse new capital and energy into the US-India partnership. Mr Somers also said that ''Further opening of Indias retail sector will modernize Indias farm-to-market supply chain. Such productivity will become Indias Second Green Revolution.'' -- (UNI) -- 19DF3.xml
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