India and US are co-hosting the global entrepreneurship summit next week in Hyderabad and the two countries can work more in sectors such as health, US Consul General Craig Hall said here today.
The summit was held in Silicon Valley last year and it would be held in India this time, Hall said at a press meet.
"While we are working at the business level which is the key, we have the resources to do other things.
"While our economies are growing together to create wealth and prosperity, the two countries can do more together in space, in health, on inventing new technology. That kind of thing can be done," Hall said.
On the global entrepreneurship summit, he said entrepreneurs of the entire world would gather at the summit.
"Not just participants from India and US, there will be people from 100 countries and more than half of them would be women as the summit's focus will be on women this year," Hall said.
"We must not forget that prosperity can be gained by including women as core members of entrepreneurial communities," he said.
Observing the Indo-US trade has grown more than five times in the past 10 years, Hall said, the bilateral trade last year was to the tune of 115 billion dollars "which sounds like big but actually not."
Leaders of two countries have taken up the challenge that the bilateral trade should be 500 billion dollar a year, he said adding that the US remains India's largest trading partner, but from the US perspective, it still remains small.
He said, "Some of the new technologies and some leading tech companies headed by Indian-Americans remind how Indians and Americans are already doing great things together.... We work together here on developing new businesses and new innovations."
Hall also announced an entrepreneurship initiative Y4BIZ - Youth for Business - organised by the American Center Kolkata in association with social enterprise Contact Base.
It is a hunt to identify 50 young emerging and early stage entrepreneurs in Eastern India with a focus on Assam, Bihar, Jharkhand and West Bengal.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)