The US today said, it has asked its companies to explore business and partnership opportunities in emerging Indian cities, which hold huge economic potential. US Commerce Secretary John Bryson, who is in the country on a five-day official visit, said in the next 20 years, 68 cities in India would have population of over 1 million people each. He said, total yearly income of urban households in India is expected to reach 4 trillion US Dollars in 2030. India's emerging regions and cities are now at the top of the list of US Growth in Emerging Metropolitan Sectors (GEMS) initiative.GEMS has been launched by the US to look around the cities in the world that have huge potential for growth and business. He said, the US is strongly encouraging businesses across the US to consider the full spectrum of opportunities and partnerships through out India and not just in four metros Delhi, Mumbai,Kolkata and Chennai.Bryson, who will visit Jaipur on Wednesday, said that close working of businesses and governments of both the countries can help support India's path towards inclusive growth.The US Secretary also said that American companies want to play a major role in India's infrastructure development.Bryson, who is leading a 16-member business delegation, will also visit Mumbai. He said US exports to India have increased to 21 billion US Dollars last year from 4 billion US Dollars in 2001. US imports from India stood at 36 billion US Dollars last year.
News On AIR | March 27, 2012 9:20 PM
US sees huge business potential in emerging Indian cities