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Commerce Secretary Gary Locke Meets With Indian Minister of Commerce and Industry Anand Sharma

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FOR IMMEDIATE RELEASE

Wednesday, June 23, 2010

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Commerce Secretary Gary Locke Meets With Indian Minister of Commerce and Industry Anand Sharma

U.S. Commerce Secretary Gary Locke today met with India’s Minister of Commerce and Trade Anand Sharma at the Commerce Department to discuss bilateral trade and investment issues. 

The meeting, which took place on the heels of the U.S.-India CEO Forum, stressed the importance the two countries place on their bilateral commercial relationship.“Following on the CEO Forum discussion yesterday, we are looking to India to set a trajectory for economic, trade and investment growth in the near- and medium-term,” Locke said. “A clear plan would encourage expanded U.S.-India commercial activity – the kind of activity that would make good on the potential it holds for both our peoples.”

In 2009, the United States exported approximately $16.5 billion in goods to India, making it our 17th-largest exporting partner. The principal U.S. exports to India are precious stones, metals, machinery, aircraft, spacecraft, electrical machinery and fertilizers. As of 2008, India had invested $4.5 billion into the United States.

The Department of Commerce’s International Trade Administration can help U.S. companies increase their trade with India, offering such services as trade counseling, market intelligence, business matchmaking and commercial diplomacy. “We have led solar power and energy efficiency trade missions to India, which are good ways for the U.S. and Indian companies to partner in the important renewable energy sector,” Locke said.

Locke also took the opportunity to advocate for U.S. fighter aircraft manufacturers, noting that the U.S. government supports Boeing and Lockheed Martin bids because they have proven to be dependable providers of high-technology products and services – including aircraft – in the Indian defense sector. The Indian government’s medium, multi-role combat aircraft competition is tremendously important to the United States with vital implications for our bilateral defense, commercial and trade relations.