Indo-US economic ties have potential to grow further: Diplomat

The Indo-US economic ties have expanded dramatically in recent years but there is still tremendous potential for further growth in the relationship, an American diplomat said tonight.

"The US-India economic relationship has grown dramatically in recent years. And yet, there's still tremendous potential," Donald F Mulligan, Deputy Consul General, Consulate General of the USA, Hyderabad, said.

"Today, our bilateral economic and strategic engagement is flourishing, and there is renewed enthusiasm from US industry to enter the Indian market and vice versa," he said.

Mulligan was speaking at the 50th Foundation Day programme of the Indo-American Chamber of Commerce (IACC) here.

The sheer size and diversity of the two economies means that a lot more needs to be done to realise the full potential of the business and commercial relationship, he said.

The US Consulate in Hyderabad recognises the opportunity for growth and is actively pursuing ways to enhance trade and investment ties, Mulligan said.

The ties between the US and India are increasingly taking place at a state-to-state and city-to-city level, he observed.

The Consulate is striving to promote the state-to- state and city-to-city commercial exchanges, he said, adding the Governor of Colarado led a business delegation to the city this month to explore bilateral investment opportunities between Telangana and Colarado.

"We also want to empower more Indian companies to explore the US market through the SelectUSA initiative and expand their global reach by investing in America," he said.

Noting that India and the US are celebrating 70 years of friendship, he said the occasion has gained additional importance as the two countries have come together to host the Global Entrepreneurship Summit (GES) in Hyderabad next month.

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