MUMBAI – Delivering remarks at the U.S.-India Business and Entrepreneurship Summit in Mumbai today, U.S. Commerce Secretary Gary Locke announced he intends to lead a high-tech trade mission to India. The February 6-11, 2011 business development mission will promote the export of high-technology products from leading U.S. firms and make stops in New Delhi, Mumbai, and Bangalore.
“Exports are leading the U.S. economic recovery, spurring future economic growth and creating jobs in America,” Locke said. “Increasing trade between the U.S. and India will help drive innovation and create jobs in both countries. As trading partners, U.S. companies can help India meet the ambitious economic and social goals laid out by its government, while the Indian market holds enormous potential for U.S. exporters.”
The trade mission will highlight export opportunities for U.S. businesses in a broad range of advanced industrial sectors, including civil-nuclear trade, defense and security, civil aviation, and information and communication.
The India business development mission will help build on the exporting success U.S. companies have had in 2010 – up nearly 18 percent compared to the same period last year. It will be Locke’s second trade mission as Commerce secretary. In May, he led a clean energy business development mission to China and Indonesia.
Exports represent a critical part of the economy and are a key component of the Obama administration’s efforts to spur new job creation. Earlier this year, President Obama outlined his National Export Initiative (NEI), which seeks to double exports by 2015, in support of several million new U.S. jobs. The NEI enhances the U.S. government’s trade promotion efforts, increases credit to businesses – especially small and medium-sized businesses – looking to export and continues to improve efforts to remove trade barriers for U.S. companies in foreign markets.
The Department of Commerce, through the Trade Promotion Coordinating Committee (TPCC), leads the administration’s trade promotion efforts. The TPCC provides a platform for the Secretary of Commerce to advance a government-wide agenda on trade promotion and to directly engage the heads of the other TPCC agencies.
Commerce’s International Trade Administration helps American companies export their products and services around the world, utilizing some 1,500 U.S. Commercial Service staff stationed in 77 countries across the globe. Last year, the U.S. Commercial Service helped facilitate billions of dollars in U.S. export sales, supporting jobs across the country.
Applications for companies interested in participating in the mission can be completed on-line at the High Tech Business Development Mission Web site at www.trade.gov/IndiaMission2011 or can be obtained by contacting the U.S. Department of Commerce Office of Business Liaison 202-482-1360. The application deadline is Tuesday, Nov. 30, 2010. ο