FOR IMMEDIATE RELEASE
Wednesday, March 28, 2012
CONTACT OFFICE OF PUBLIC AFFAIRS
On third day of trade mission, Secretary Bryson focuses on U.S.-Indian business partnerships
U.S. Commerce Secretary John Bryson led his 16-business trade delegation to Jaipur today to see first-hand the vast business opportunities available in India’s rapidly expanding infrastructure sector and to promote bilateral cooperation on innovation, a key theme of U.S.-Indian relations. Bryson is the first U.S. Commerce Secretary to visit Jaipur.
Secretary Bryson and the delegation met with senior Rajasthan state government officials and business leaders to explore how U.S. technology and products can support Rajasthan’s infrastructure development goals. Bryson said he is confident that trade between the U.S. and Rajasthan will grow substantially as a result of this mission.
“Together, we can bring unprecedented growth – inclusive growth – to areas and groups that may not have benefited in the past,” said Bryson. “I believe we have reached a point where we must expand our partnership to include more regions throughout India – especially fast-growing areas like Jaipur and Rajasthan – to help further broaden and deepen our trade and investment relationship."
He also gave remarks before a group of Rajasthan industry representatives, where he discussed trade and investment opportunities that benefit both the United States and India. Bryson said the bilateral investment relationship between the U.S. and India is stronger than ever. U.S. direct investment in India is now over $27 billion across a wide range of sectors including services, manufacturing, information and technology. At the same time, India is a fast-growing source of foreign direct investment into the United States. Indian companies employ tens of thousands of American workers in professional, technical, and scientific services – as well as other industries. Bryson welcomed this development.
“America has world-class universities, cutting-edge R&D, deep supply chains, a strong patent system, and a talented workforce. The 16 U.S. businesses with me can connect Rajasthan’s businesses with the tools to meet their growing infrastructure needs,” said Bryson.
Earlier in the day, Bryson and the delegation toured Jaipur Foot and Mahindra World City, Jaipur, to learn how they can partner with Indian companies to provide their equipment, services and technologies to help the region achieve its development goals. At Jaipur Foot, a manufacturer of a polymer-based prosthetic device for below-the-knee amputations, Bryson spotlighted the partnership between the two countries in successfully applying innovative technologies for prosthesis manufacturing. U.S. research institutions such as the Massachusetts Institute of Technology (MIT) and Stanford University are assisting in the commercialization of some of the technologies. At Mahindra World City, senior Mahindra Group officials gave a tour and outlined the many opportunities for U.S. and Indian companies to collaborate on infrastructure projects. Mahindra World City, a joint economic venture between Mahindra and the government of Rajasthan, is planned as an integrated business city spread over 3,000 acres.
Tonight, Secretary Bryson travels to Mumbai for the final leg of the trade mission. Tomorrow, he will tour the Mumbai International Airport and meet with airport management. Also that day, Bryson will deliver remarks about the growing importance of the U.S.-India bilateral investment relationship before the Confederation of Indian Industry and the newly-formed U.S.-India Investors’ Forum. On Friday, the Secretary will announce the inauguration of the Executive Committee members of the VISIT USA Committee India (VUSACOM), which is a group started with support of the U.S. Commercial Service that aims to promote travel by Indian citizens to the U.S.
Secretary Bryson’s trade mission to India began March 25 in New Delhi and wraps up Friday, March 30, in Mumbai. The trade mission supports President Obama’s National Export Initiative goal of doubling U.S. exports by the end of 2014 to create more good-paying jobs, as well as the President’s SelectUSA initiative, the first coordinated federal effort to promote and facilitate foreign and domestic business investment in the U.S. In addition, the mission provides an opportunity to encourage Indian tourists to visit the U.S. More information about the India trade mission.