Nagpur News.
Camille Richardson, Commercial Consul and P. Srinivas, Sr. Commercial Specialist of American Consulate General, U.S. Commercial Services, Mumbai paid a visit to Nag Vidarbha Chamber of Commerce.
Dipen Agrawal, President NVCC welcomed and felicitated the guests and appraised various activities undertaken by the Chamber since last 7 decades in the interest of trade, commerce & industry of Vidarbha region.
P. Srinivas, Sr. Commercial Specialist introduced Ms. Camille Richardson, Commercial Consul and briefed that U.S. Commercial Service (CS) trade special are linked to more than 100 offices in United States. Their expert industry knowledge and relationships with American businesses will help to trade, industry, U.S. Suppliers and facilitate potential business partnerships in the U.S. their assistance are customized lists of U.S. companies, trade leads, introductions to U.S. companies, appointments with U.S. exhibitors trade shows. He also said that there is an International Buyer Program in the year 2014, where various Trade Show Programs will be held. He desired to know the scope of U.S. business at Nagpur- Vidarbha
Dipen Agrawal, President presented the scenario of Indo – U.S. Trade. He said “Trade and Commerce form a crucial component of the rapidly expanding and multi-faceted relations between India and US. From a modest $ 5.6 billion in 1990, the bilateral trade in merchandise goods has increased to $ 57.8 billion in 2011 representing an impressive 932.14% growth in a span of 21 years.
India’s merchandise exports to the U.S. grew by 19.88% from $ 7.93 billion during the period January- March 2011 to $ 9.50 billion in January- March 2012. US exports of merchandise to India also grew by 3.93% from $ 4.57 billion during the period January – March 2011to $ 4.74 billion in January – March 2012. India – US bilateral merchandise trade stands at $ 14.24 billion during this period.
Trade during the period January – September 2012
Major items of export from India to US
Select major items with their percentage shares, are given below.
a) Textiles (15.2%)
b) Precious stones & metals (16.9%)
c) Pharmaceutical products (9.9%)
d) Mineral Fuel, Oil (8.2%)
e) Lac, Gums, Resins (10.1%)
f) Organic chemicals (5.4%)
g) Machinery (5.3%)
h) Electrical Machinery ( 3.7%)
ii) Major items of export from US to India
Select major items with their percentage shares, are given below
a) Precious stones & metals (24.2%)
b) Machinery (12.5%)
c) Mineral fuel, Oil, etc. (8.4%)
d) Optical instruments & equipment (6.5%)
e) Electrical machinery (6.2%)
f) Aircraft and parts (5.1%)
g) Organic chemicals (4.1 %)
h) Plastic Products (3.4%)
Dipen Agrawal, President said that Vidarbha region is immensely rich in minerals, dense forests, tourists places specially for wild animals, cotton and vast scope for IT sector Industrial infrastructure, MIHAN-SEZ, uninterrupted power supply, ample of water and land are the positives of this region. He desired that U.S. would establish its commercial services office at Nagpur and attract global markets.
