Secretary of Commerce Gary Locke gave the keynote speech today at an event sponsored by the Confederation of Indian Industry (CII) in New Delhi, one of the events on a trade and business mission he is leading through India this week. Twenty-four U.S. businesses are represented on the trip, including several manufacturers.
Between 2004 and 2008, trade doubled between India and the United States.
And ours is increasingly a partnership of equals. . .
. . . With major U.S. multinationals like Cisco, GE and IBM locating major research and development facilities here, and depending on Indian scientists and engineers to do growing amounts of higher value-added work.
I think the growing respect that U.S. businesses have for India can be summed up by the words of a Cisco executive who said:
We came to India for the costs, we stayed for the quality and we’re now investing for innovation.
Even though India has made tremendous strides to open up its economy, there is much work left to be done. (continue reading…)