India not stealing US jobs but providing opportunities for Americans: Nirupama Rao

Chennai:

India is a useful trading partner of United States and during the economic downturn India is not taking away jobs of Americans but is creating more opportunities for them, India’s ambassador to United States Nirupama Rao.

Stating that India’s exports haven’t been hit during the downturn, she said India is a useful partner and is contributing value to the US economy.

Speaking to reporters after addressing a business interactive meeting organized by Federation of Indian Chamber of Commerce and Industry here on Monday, the foreign secretary turned diplomat told reporters that export to United States is in goods and services sectors and there is a need to boost exports from the manufacturing sector.

The top 10 exports is dominated by commodities including gem and jewellery besides leather and spices and there is a need to diversify the export basket to United states by focusing on exports.

“There is a need to diversify into manufacturing exports and the new manufacturing policy of the government is a step in the right direction, she said.

She also mooted the idea of setting up a world class cancer institute in India and when pressed by reporters for details she added that it is just in a proposal stage.

She also said there have been a huge Indian investment in shale gas in United States with Indian investment ranging about 10 per cent of the $29 billion foreign direct investment in United States.

Rao also stated that United States is keen to partner with India in building infrastructure and US Commerce Secretary John Bryson will lead his first trade mission in March next year. “The focus of the mission is to promote US exports and discuss trade policy issues in response to India’s goal of investing $1 trillion in infrastructure development during the next five years,” she added.