India Subcontracting Expo 2021 to focus on trade opportunities for US businesses
The India Subcontracting Expo 2021 will focus on the North American region
The Covid-19 pandemic has presented an unusual chance for India and the US to work together to build resilient and reliable supply chains that have the ability to endure future developments.
Ahead of the India Subcontracting Expo 2021 to be held virtually in February, eminent speakers have told a virtual forum that India offers several opportunities to the US in various sectors including manufacturing.
According to a report in Financial Express, the 2021 India Subcontracting Expo will focus on the North American region.
The expo aims to bring together exhibitors from India and buyers from Mexico, US and Canada.
Indian government officials, diplomats and industry leaders said that the expo will present opportunities for both India and the US in trade and investment.
During the curtain raiser event, officials also stated that the expo will help boost economic ties.
Manoj Mohapatra , Minister (Commerce) at the Embassy of India in Washington DC said trade, investment and economic cooperation forms an important unit of the India-US partnership.
He also noted that Washington and New Delhi are in talks to conclude a trade package which will create growth opportunities for Indian and US businesses.
On the other hand, EEPC India Chairman Mahesh Desai said that North America is the largest destination for India's merchandise as well as engineering exports.
He asserted that the pandemic has got new opportunities leading to strengthening of bilateral trade and investment relations with this region.
Joint Secretary (EP-Engg.) in the Ministry of Commerce and Industry Srikar K Reddy said that India has emerged as one of the most promising economies for developed regions, especially in sectors like investment and trade.
He also mentioned initiatives such as Aatmanirbhar Bharat Abhiyaan, introduced under the Modi led government, aids in attracting the attention of nations for trade and investment opportunities in India.
He also pointed out the importance of subcontracting in the North American market.
“I strongly believe that this expo will surely be mutually beneficial for both India and North America, and will be helpful for Indian engineering, especially the MSMEs to find new and sustainable businesses”, Financial Express quoted Reddy as saying.
The expo will be held virtually between 16-19 February.