Civil Aviation Minister seeks investment from US industry

Washington, June 22 (UNI) Civil Aviation Minister Praful Patel invited American industrialists and corporate heads to explore investment opportunities in India's air transportation and aviation infrastructure.

Speaking at a luncheon, hosted by the US-India Business Council (USIBC) here yesterday, Mr Patel said, ''We will have to work very actively in infrastructure and we need to create our own hubs (including) a cargo hub in Nagpur,'' to support India's booming logistics and shipping sectors.

Earlier former Deputy US Trade Representative and USIBC Board Member Amb Sue Esserman in her opening remarks lauded Mr Patel for his leadership in broadening the US-India aviation corridor and developing new avenues of cooperation in air safety, training, and infrastructure development.

USIBC President Ron Somers praised Mr Patel for his achievements in stimulating India's aviation industry and his new aspiration to develop a network of 400 modern international, domestic and municipal airports across India by 2020.

''India's passenger and cargo airlines experienced phenomenal growth rates last year, and Minister Patel recognises the importance of supporting these airlines by developing sufficient infrastructure,'' Mr Ron said.

''Equally as important, we have a true two-way street for US and Indian carriers, with Jet Airways and other Indian airlines opening international flights between our two countries.' USIBC celebrates its 32nd Anniversary on June 27, in Washington DC at its 'Global India' Summit, which will feature Boeing's CEO Jim McNerney, Reliance's CEO Mukesh Ambani, India's Commerce Minister Kamal Nath, US Trade Representative Susan Schwab, US Secretary of Commerce Carlos Gutierrez, and US Secretary of State Condoleezza Rice among others.

The US-India Business Council is comprised of 250 of the largest US companies investing in India, joined by two dozen global Indian companies, whose common aim is to strengthen commercial relations and deepen two-way trade.

UNI