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For Immediate Release: November 7, 2011
Contact: Lorri Crowley (202) 482-3809
Senior Obama Trade Official Kicks Off Trade Mission, Bestows Prestigious Award in India
Under Secretary Sánchez Presents Kiran Pasricha with Peace through Commerce Award
NEW DEHLI -- Under Secretary of Commerce for International Trade Francisco Sánchez began the Clean Technologies trade mission to India today by awarding Kiran Pasricha of the Confederation of Indian Industry (CII) the prestigious Peace through Commerce Award at an event organized by CII.
Sánchez said, “It gives me great pleasure to honor Kiran Pasricha for her stellar contributions to the growth of the U.S. – India commercial relationship. Her efforts have led to the expansion of U.S. exports to India,and economic growth and jobs in both countries.”
Throughout her 25-year career in the Confederation of Indian Industry (CII), Pasricha has been a leading advocate in support of Indo-US commercial and industrial partnerships. She is responsible for fostering the forging of new partnerships between American and Indian businesses – partnerships that helped sustain and create jobs in America, and expand U.S. exports to India.
Earlier, Sánchez attended an event with the U.S. India Business Council (USIBC) and the American Chamber (AMCHAM). He had the opportunity to learn first-hand from U.S. companies about the market access barriers and policy challenges they face, inhibiting their ability to compete and grow in this important market.
Sánchez, along with the trade delegation attended the Indian American Chamber of Commerce IACC)/Growth in Emerging Market Sectors (GEMS) Clean Energy Roundtable, where they met Indian government officials from the Northern states. The delegates gained insight on India’s clean technologies sector and learned about the clean energy opportunities in the northern states of Haryana and Himachal Pradesh.
The GEMS initiative embraces the notion that export-driven growth will result from small and medium-sized enterprises working with their counterparts in smaller, fast-growing cities in emerging markets. Ultimately, such growth will create jobs in the United States and will generate sustainable, long-term growth in the global economy.
“While the goal of this mission is to connect U.S. and Indian companies to help reach potential deals, we will also have policy discussions with several ministries while we are here,” Sánchez said. “By establishing a market climate that welcomes U.S. technology, India can meet its ambitious goals for becoming a leader in renewable energy and energy efficiency and U.S. businesses can sell their world class products and services into this important market.”
U.S. exports to India totaled a record high of more than $19 billion in 2010, making India the 17th largest merchandise export market. U.S. service exports to India have more than tripled, increasing from $3 billion in 2002, to more than $10 billion in 2010.
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