For Immediate Release: June 17, 2008
Contact: Brittany Eck (202) 482-3809
U.S. Commerce Department Launches India Business Center
“One-stop shop” to help U.S. exporters tap market opportunities
WASHINGTON - The U.S. Department of Commerce has established a new India Business Center (IBC), housed in the Trade Information Center (TIC) of the U.S. Commercial Service.
The IBC will help U.S. companies take advantage of emerging market opportunities and the fast growing purchasing power of the middle class in India. Key sectors include education services, computer and peripherals, medical equipment, oil and gas field machinery, pollution control equipment, retail and franchising services and telecommunications.
“We are looking forward to collaborating with the U.S.-India Business Council and its valued members,” said Israel Hernandez, Assistant Secretary of Commerce and Director General of the U.S. Commercial Service. “This new India Business Center will strengthen U.S.-India trade ties and our commercial relationship.”
The IBC provides the following services for U.S. exporters seeking to trade in India:
- Web portal that contains up-to-date information about doing business in India, www.export.gov/india
- Specialized telephone counseling on the market via 1-800-USA-TRAD(e)
- Outreach activities to raise awareness of opportunities in India for U.S. businesses
India presents diverse and lucrative opportunities for U.S. exporters with the right products, services, and commitment. The IBC will provide business counseling and market intelligence that is critical to the success of American companies in India. The IBC will also help U.S. businesses understand the complexities of the market and provide strategies to enhance their chances for success. Additionally, the IBC utilizes the expertise of the U.S. Commercial Service network and 19-agency U.S. Government Trade Promotion Coordinating Committee (TPCC) partners.
In 2007, U.S.-India two-way trade reached an all-time high of $41 billion. U.S. merchandise exports to India increased 75 percent in 2006 to almost $18 billion in 2007. India’s gross domestic product (GDP) is currently increasing by 8-9 percent per year, making it one of the fastest growing large economies in the world.
The IBC joins the two existing business information centers – the China Business Information Center and the Middle East and North Africa Business Information Center – in providing specialized assistance to U.S. exporters.
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