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India-US bilateral trade has crossed $100bn: Consul general

The Times of India:  March, 2014

Madurai: Bilateral trade between India and United States has been growing at a rapid pace, with its commercial value touching $100bn, a substantial increase from $90bn in 2011, said Jennifer A McIntyre, US consul general, Chennai.

She was addressing entrepreneurs and students in 'Access America' program organised in the city to attract Indian investment and partnership in the United States. Its purpose was also to motivate students from Southern parts of the state to pursue higher education in USA. The programme was organised by Tamil Nadu Chamber of Commerce on Friday.

"In recent years India has been among the fastest-growing sources of investment into the US. A total of about 8.9 billion dollars has been invested as on 2012, supporting thousands of US Jobs," she said adding that there was enormous untapped potential to expand this relationship. In the past few years through the efforts of both the governments and business associations US exports to India increased from one billion dollars to over 22 billion dollars. Similarly, India's exports to the US have grown by four billion dollars to whopping 41 billion dollars. To promote this further American Business Corners have been opened in Madurai, Coimbatore, Trivandrum, Kochi and Mangalore in Southern India. Tier two cities are being targeted due to their untapped potential, she said.

Consulate Chennai is currently the 13{+t}{+h} largest non-immigrant visa adjudicating post in the world. In financial year 2013 alone, Chennai has adjudicated over two lakh visas of which half of them are professional and work visas. US is also a preferred destination for higher studies. Close to one lakh Indians currently study in the US there wutg student visa application up by 15 per cent in South India, she said.

John M Mc Caslin, Senior Commercial Officer and Minister Counsellor for Commercial Affairs said that US remains the leading investor in India both in terms of projects and jobs generated. Through foreign direct investment in India US firms have created over 10 lakh jobs here, he said.