US-India high tech trade to get major boost: Gutierrez
US exports to India have doubled to USD 10.1 billion since 2003 and in the last five years alone advanced technology exports alone were up 145 per cent to USD 3.3 billion.
By PTI |
WASHINGTON: A new trade promotion programme envisaged by the US for India will boost economic ties between the two countries and enable customers gain access to high- tech products, a senior administration official has said.
The Trusted Customer Programme that is being envisaged by the administration for India will boost hi-tech trade ties between the two countries, Commerce Secretary Carlos Gutierrez said.
"In a few months our Trusted Customer programme for high-tech exports to India should be up and running. This will be a significant development for two reasons," Gutierrez said.
"First, the programme will greatly facilitate high-tech trade. For some controlled dual-use high-tech products, no export licenses will be required.
"Customers who qualify for this programme will have access to US high technology products in a faster, more efficient, and more transparent manner," he said.
"Second and perhaps more important the new programme shows the deep level of trust and cooperation we have for each other. Trust is absolutely vital in business," Gutierrez said.
India has come. In a short time the economic growth is incredible. Its no wonder global businesses and investment companies are clamouring to get into such a dynamic market".
US exports to India have doubled to USD 10.1 billion since 2003 and in the last five years alone advanced technology exports alone were up 145 per cent to USD 3.3 billion, he said.
The Trusted Customer Programme that is being envisaged by the administration for India will boost hi-tech trade ties between the two countries, Commerce Secretary Carlos Gutierrez said.
"In a few months our Trusted Customer programme for high-tech exports to India should be up and running. This will be a significant development for two reasons," Gutierrez said.
"First, the programme will greatly facilitate high-tech trade. For some controlled dual-use high-tech products, no export licenses will be required.
"Customers who qualify for this programme will have access to US high technology products in a faster, more efficient, and more transparent manner," he said.
"Second and perhaps more important the new programme shows the deep level of trust and cooperation we have for each other. Trust is absolutely vital in business," Gutierrez said.
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Commenting on his last visit to India, the Commerce Secretary said "I was struck by just how far India has come. In a short time the economic growth is incredible. Its no wonder global businesses and investment companies are clamouring to get into such a dynamic market".
US exports to India have doubled to USD 10.1 billion since 2003 and in the last five years alone advanced technology exports alone were up 145 per cent to USD 3.3 billion, he said.
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