Anand Sharma to attend USIBC meeting

New Delhi, Jun 15: Anand Sharma, the Union Minister of Commerce and Industry, will be leaving on Monday, Jun 15 night for USA to attend the US-India Business Council (USIBC) meeting at Washington.

Sharma will be accompanied by the representatives from trade and industry and apex chambers.

During the USIBC meeting on Jun 17, US Secretary of State Hillary Clinton will be delivering the keynote address and US Secretary of Commerce Gary Locke also address on the occasion.

Sharma will be addressing at the function on the theme of 'India and the US - Partners for Prosperity'. He will also meet Ambassador Ronald Kirk, US Trade Representative and discuss about the present scenario of the Doha Round Negotiations.

On Jun 18, Sharma will meet Gary Locke. He will also address on 'India in a Globalised World'.

On Jun 19, Sharma will meet United Nations Secretary General at New York and he will also deliver the keynote address at CII/Asia Society event.

The USA is India's largest trading partner and foremost export destination. At present it accounts for 12.71 per cent of India's exports and around 8.36 per cent of India's imports. India's exports to USA during 2007-08 was US 20,712 million dollar and imports were US 21,019 million dollar.

Major items of Indian exports to USA are: gems and jewellery, RMG cotton, machinery and instruments, drugs, pharma, fine chemicals etc. Major items of import from USA to India are: fertilizers, machinery, electronic goods, instruments and petroleum..

USA ranks third in the FDI equity inflow to India. The FDI inflows during April 2008-March, 2009 were US 1802 million dollars. The total FDI equity inflow from the USA since April, 2000 to March, 2009 amounts to US 6,335 million dollar.

ANI