Exporters eye US market

Bilateral trade between Indian and USA is set to cross $50 billion by the end of this fiscal, up 25 percent from $42 billion recorded in the corresponding period a year ago.

"Going by the recent trends, the bilateral trade would comfortably cross $50 billion by March this year, but we our goal is to reach $60 billion as soon a possible," said Henry V Jardine, consul general of USA in Kolkata.

He also added that although US export to India is increasing by more than 75 percent but India still enjoyed a bilateral trade surplus of $6.4 billion in the last fiscal.

The consul general said US companies are interested to invest in the proposed deep sea port in the state.

A 20 member trade delegation from Los Angeles is going to visit Kolkata in March in this regard.

"LA based companies specialises particularly in port infrastructure development and hence there might be some proposals coming up if the proposed deep sea port project is through," Jardine said while talking with the media in the sidelines of buyer seller meet organised by the Engineering Export Promotion Council (EEPC).

However, he also mentioned that the delegation would also include members from the service and entertainment sector.

"Mostly it would be interactive sessions but the team is also trying to fix up a possible meeting with the state government," Jardine added.

Meanwhile, 10 companies from USA and 16 from ASEAN countries were present in the buyer and seller meet of EEPC.

While on the Indian side there were representatives from over 45 companies.

The council would also organise such meets in the other parts of the countries as well.

"This meet would ensure that the buyers from different regions of the world are allocated to different cities where they will meet the respective representatives of the council interested in catering to the needs of those regions," said R P Sehgal, chairman EEPC, Eastern Region.