indica News Bureau-
The United States and India, world’s two largest economies, impact the global IT and Services industry and this manifested through the strong and growing trade and other relations between the two nations, said US Consul General in Hyderabad Joel Reifman. “The country is keen growing the trade relation going ahead.” he added.
He was the chief guest at the inauguration of the first ever “Biz Summit 2020” organized by the Hyderabad Software Enterprises Association (HYSEA) on ‘Expanding Growth Horizons’.
“Other than government to government trade relation, the US and India share people to people relation and this can be seen from the fact that we have about 2,00,000 Indian students in different universities and colleges in the US. The Indian diaspora are leading companies and the Silicon Valley would not have been the same without the contribution of Indians,” Telangana Today quoted Reifman.
“Some of the challenges India and US could work on are price control measures, digitization, protecting sanctity of contracts to make the trade relations truly free and equitable. While the number of duty free items coming into India from US are 3%, half of items imported from India qualified for duty free in the US and we are looking to equalize this in the short term,” he said adding that the US encouraged Indian companies to invest in the US and Telugu was one of the fastest growing languages in the US.
He also said that Telugu is the fastest growing language in the US and the students from the Telugu region are critical for the country. He sought more and more Indian companies to invest in the US and informed that the new consulate coming up in Hyderabad will have 54 windows from the current 16 windows at the existing consulate.
He said in the services industry, there was scope for tremendous opportunities between US and India and it came from people to people contact as well as from the governments on technology sharing. The US Consulate in Hyderabad issued two million student visas so far.