Kamal Nath calls for greater economic engagement between India-US

New Delhi, Nov 28 (UNI) Union Commerce and Industry Minister Kamal Nath today expressed the hope that the India-US small and medium enterprises (SME) business event being organised in Chicago in February 2008 would provide a platform for further economic engagement between the two countries.

Recognising the growing strategic partnership between the two largest democracies of the world, he called on the need to provide greater commercial and economic thrust to this relationship.

He said this while welcoming the US delegation led by Senator Robert Bennett and accompanied by Senator Bob Corker among others.

On Indo-US trade relationship, Mr Kamal Nath said there is tremendous potential for increasing bilateral trade which stood at 31.5 billion dollars in 2006-07.

To give it a fillip, the India-US Trade Policy Forum (TPF) was announced during the visit of Prime Minister Dr Manmohan Singh to United States in July 2005.

A private sector advisory group (PSAG) was created at the Ministerial level to provide recommendations and policy insight to assist TPF discussions and infuse new ideas to assist overall bilateral trade and investment. The first meeting of the PSAG took place in September 2007 where Mr Nath and US Trade Representative met the PSAG members.

UNI