U.S. Commerce Secretary Gary Locke announced that he will lead a high-tech trade mission to India early next year. The mission is designed to help U.S. companies enter the Indian market or build on existing operations. It will highlight export opportunities for a range of sectors including specialized materials, aerospace, information and communication technologies among others. Given the high-quality products available from the Puget Sound Region, Congressman Smith strongly encourages local businesses and business leaders to apply to participate in this trade mission.
“India’s market is one of the fastest growing in the world and the growth is projected to continue. At the same time, the U.S.-India trade relationship is becoming increasingly important for American exporters. I encourage all eligible local business leaders and companies to take advantage of this opportunity,” said Congressman Adam Smith. “As our region looks to recover and create jobs, we must take advantage of every opportunity. The Puget Sound Region is particularly strong in products from sectors such as technology and civil aviation that India desires. We should seek to build a stronger, mutually beneficial relationship with India as well as other growing economies throughout Asia.”
The business development trip will take place February 6 through 11, 2011 and will travel to New Delhi, Mumbai and Bangalore. Participating firms and business leaders will join the Secretary and export financing agency officials to promote U.S. exports in a broad range of advanced industrial sectors, including civil-nuclear trade, defense and security, civil aviation, and information and communications technology. For more information, visit: www.trade.gov/IndiaMission2011. The deadline to apply is November, 30 2010.
The U.S.-India trade relationship continues to grow in strength. From 2002 to 2009, U.S. goods exports to India quadrupled, growing from $4.1 billion to $16.4 billion. U.S. exports to India through the first eight months of this year are up 17.5% and are on target to reach an all-time high of $19 billion. Trade in advanced technologies – the focus of Secretary Locke’s upcoming trade mission to India – was a key driver in much of this growth.