US business team to visit India in Nov

NEW DELHI: After the European Union, it is now the United States which is showing increased interest in intensifying business ties with India. As many as 300 US companies will visit India — as part of the largest-ever US business delegation — late November to scout for opportunities.

Indian business, too, is reciprocating the interest with an equal number of local companies registering for the investment summit scheduled to take place during the US delegation’s visit.

With the Doha round of multilateral trade talks stuck, the visit of the US delegation could be viewed as an attempt made by the country to advance bilateral trade ties in a big way. Since the European Union is already looking at the possibility of entering into a comprehensive economic co-operation agreement (CECA) with India, the US does not want to be left behind. The US is also aware the recent visit of Prime Minister Manmohan Singh to Brazil and Cuba would open the doors wider for Indian business in South America.

The US delegation, led by Under Secretary of Commerce for International Trade Franklin L Lavin, will — after the investment summit — split into six groups which would also include representatives from India. The groups would then visit various cities in India for ‘match-making’ between interested parties.

The US is India’s largest trade partner and the country also attracts the largest number of professionals from India. In fact, Chennai has become the fourth-largest centre for issuing of US business visas.

The number of visa applicants from India has increased so steeply that the US is now planning a new centre in Hyderabad. To come up soon, the new centre would lighten the load on Chennai.