US sees huge business potential in emerging Indian cities

New Delhi, Mar 27 (PTI) The US today said it has asked its companies to explore business and partnership opportunities in emerging Indian cities, which hold huge economic potential. US Commerce Secretary John Bryson, who is in the country on a five-day official visit, said in the next 20 years, 68 cities in India would have population of over 1 million people each. "Total yearly income of urban households in India is expected to reach USD 4 trillion in 2030. So, India's emerging regions and cities are now at the top of the list of our Growth in Emerging Metropolitan Sectors (GEMS) initiative," Bryson said here at an Indo-American Chamber of Commerce function. GEMS has been launched by the US to look around the cities in the world that have huge potential for growth and business. "We are strongly encouraging businesses across the US to consider the full spectrum of opportunities and partnerships through out India and not just in four metros (Delhi, Mumbai, Kolkata and Chennai)," he said. Bryson, who will visit the nortwestern city of Jaipur tomorrow, said that close working of businesses and governments of both the countries can help support India's path towards inclusive growth. "I will continue to spread the word that India's success and India's future are not solely defined by Delhi or Mumbai alone, just like America's success and America's future are not defined by New York, Washington," he said. The US Secretary also said that American companies want to play a major role in India's infrastructure development. "It is exciting to see India's trillion dollar commitment to infrastructure over the next five years. This plan is both ambitious and admirable. It includes as many as 600 major projects, including a strong emphasis on public-private partnership," he added. Bryson, who is leading a 16-member business delegation, will also visit Mumbai in western India. He said US exports to India have increased to USD 21 billion last year from USD 4 billion in 2001. US imports from India stood at USD 36 billion last year. PTI