Acting Commerce Secretary Blank Promotes U.S.-India Commercial Relations
morning, Acting U.S. Commerce Secretary Rebecca Blank delivered
remarks to the U.S.-India Business Council in Washington, DC as part
of their 37th Anniversary Leadership Summit, in advance of the U.S.-India Strategic
Within the next
20 years, it is estimated that India will become the most populous country in
the world, and total yearly income of Indian urban households could reach 4
trillion U.S. dollars. With their middle class growing bigger each day, India
is poised to continue playing a major role in the global economy.
Blank spoke to the Council about these
important economic opportunities and the ways that the United States and India
can work together to strengthen their economic relationship.
praised the success of the U.S.-India trade relationship. From 2009 to 2011,
U.S. goods exported to India grew over 30 percent to a record $21.6 billion.
stressed the importance of the U.S.-Indian bilateral investment relationship.
Over 30,000 Americans work at U.S. subsidiaries of Indian firms. Programs like SelectUSA,
an initiative of the Commerce Department, are focused on attracting Indian investment
in U.S. companies across the country in order to create more job opportunities
Secretary Blank reinforced the effectiveness of the newly-renewed
Commercial Dialogue and person-to-person relationships as ways to
bring together American and Indian businesses.
U.S.-India Business Council is a business advocacy organization comprised of
top-tier companies from both countries, whose aim is to deepen two-way trade
and strengthen commercial ties between the two countries.