Driven by SMEs Indo-US trade to touch $ 100bn: USINPAC

New Delhi, Jan 4 (UNI) The Indo-US trade is expected to cross 100 billion dollars from the present 24 billion dollars in the next 10 years, driven mostly by mergers and acquisitions in the small and medium enterprises sector (SMEs).

US India Political Action Committee (USINPAC) on its 4th annual delegation visit to India met Commerce Minister Kamal Nath today and discussed ways to enhance linkages between small and medium businesses in the US and India.

USINPAC founder and chairman Sanjay Puri said the sector, which generates the maximum employment opportunities, has remained ''neglected'' in both the countries.

Once the constraints hampering the growth of the SMEs sector, like the lack of awareness, funding, ventures incentives are removed the sector will help the Indo-US trade to grow five times of its present size in the next decade, Mr Puri said.

''With this, we hope the Indo-US trade will increase by five times in next decade through the SMEs sectors.'' Referring to the steps being taken in this regard the USINPAC chairman said, ''To uplift the SMEs sector, offices will be set up at the state-level in both the countries, which will providing a platform to the entrepreneurs to work together for the promotion of the SMEs sector,'' he said.

Mr Puri also welcomed the Commerce Ministry's proposed coordinating mechanism to create synergies between the efforts of bilateral trade and industry forums to accelarate the pace of small business development.

USIPAC delegation comprises of 20 top business executives, entrepreneurs and medical professionals from the India American community.

UNI