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US firms looking at renewable energy and smart grid among other sectors to expand

According to reports, the US Embassy is keen to forge linkages between small and medium enterprises, and help in guiding and assisting them to expand their business.

Judy R. Reinke, Minister Counselor for Commercial Affairs, Embassy of the USA, said that the bilateral trade between India and US, now at about $60 billion, is poised to hit the $100-billion mark within the next few years as there is growing interest to expand two-way trade.

Small and medium-sized companies who employ less than 500 people, and who account for nearly 95 per cent of the business volumes in the US, are keen to explore opportunities for collaboration in India.

Likewise, small companies looking to expand, set up operations in the US or even establish a manufacturing base there, will be guided by the Embassy.

During her visit to Hyderabad, she outlined broad five areas where US companies are keen to expand.

These include the energy sector, including renewable energy and smart grid solutions, aviation and defense  healthcare and services.

The other untapped area where there is immense potential for both countries to explore is travel and tourism and various services relating to them, she said.

Referring to the renewable energy sector, she said that several companies in the US are keen to take part in the India’s growth story.

The issues relating to local requirement are being addressed at a different level between the two countries.

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