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• Indo American Chamber of Commerce (IACC), Tamil Nadu hosted a first of its kind B2B meet on “US – India Business Growth opportunities in Shipping and Logistics” on February 20, 2012. Francisco Sanchez, Under Secretary of Commerce for International Trade, U.S Department of Commerce presided over the event as the Chief Guest and Jennifer McIntyre, U.S Consul General, Judy Reinke, Counselor for commercial affairs U.S Embassy, Delhi as the Guests of Honor. The dignitaries were joined by executives from 20 leading shipping and logistics companies who met up with and discussed with Indian companies in the sector, possibilities for collaboration and potential avenues for investment.
• In 2011 bilateral goods between India and the United states was nearly $ 58 billion dollars million tones. India’s shipping sector continues to expand at a frenetic pace, with a combination of increasing consumer demand and overseas trade volumes boosting shipping volumes to and from the country’s ports. The country’s impressive economic growth is fuelling the rapid development of the country’s container ports in particular, as income levels and demand for consumer goods expands.
• In his remarks, Francisco Sanchez, Under Secretary of Commerce for International Trade, U.S Department of Commerce, said,” India is emerged as economic leader. Its 1.3 billion people are among the most creative and innovative in the world. And our two countries share similar goals, expanded opportunity, greater prosperity and thriving economies.
• In 2011 bilateral trades in goods between India and US was nearly $58 billion. India will grow faster than any other country in the world in the next 20-25 years, but with the excitement causes the challenges. So does its infrastructure need to develop. The current infrastructure network isn’t strong enough to support India’s emergence. India’s businesses cannot be competitive in this environment.
• “Investments are clearly needed that’s why I was glad to see the announcement last year by the government of India, $ 66 billion for the port sector and $ 27 billion for shipping sector. This will reportedly increase India’s port capacity from 1 billion tons to 3.2 billion tons by 2020. India is quickly becoming a home for the world’s capital for talent, innovation. It is a remarkably story of progress,” he adds.
• According to Jennifer McIntyre, U.S Consul General,“We are delighted to host the first of this trade mission . India’s economic growth is well known, along with that growth rate comes the side effect of severe infrastructure capacity constraints, this is especially true in the ports and logistics sector. Here in south India you will find a large and successful manufacturing base that is pushing some of India’s largest ports located here in the south, beyond their capacity. I know you will also find willing partners here that are more than willing to engage with U.S companies and U.S ports to find mutually beneficial commercial solutions to addresses the capacity issues face here.

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