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Greater synergy among Indo-US Cos. improve bilateral relation

Written by: Staff

Kolkata, May 03 (UNI) US Under Secretary for International Affairs at the Treasury Department Timothy Adams today hailed the increasing business synergy among Indian and American companies and said this would take the bilateral relations to a further new high.

Speaking to newsmen after participating in an inter-active session with a team of scientists at a leading city-based multinational on biotech research at the end of his day long maiden visit here, Mr Adams,however,made it clear that the present trend was "just the beginning" of a long lasting relationship between the two largest democracies in the world.

Referring to his visit to New Delhi,Mumbai and Kolkata as a virtual 'eye opener' in terms of huge growth potential in bilateral trade and business opportunities, the US Treasury Under Secretary said the recent meeting of G-7 countries had also taken note of this and admitted the role of India as an emerging economic super power.

Touching on the issue of outsourcing which had greatly affected the USA, he said on the contrary a lot of companies in both the countries had greatly benefitted through the process.

About increasing extension of micro credits to rural farmers in India, Mr Adams said greater synergy, particularly among the SME sectors, would go a long way in improving the financial condition of the people at the grassroot level.

Earlier,Mr Adams visited one of the largest city based NGO - 'Bandhan' which worked in close association with Ford Foundation for over a decade, and expressed his happiness over the NGO receiving a considerable amount of US aid which was in turn used for economic uplift of the poor and the downtrodden in the region.

Incidentally, the US Under Secretary who arrived here last night on the third leg of his six day visit to India,also met Finance Minister Asim Dasgupta at the State Secretariat to discuss the role of the state government in rural development with special emphasis on infrastructural sector.

A number of senior representatives from all the major Chambers of Commerces also called on him during the day.

Later, Mr Adams and the four member high power US delegation accompanying him,left for Hyderabad.


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