From shrimps to shale gas, Amit Mitra, the principal adviser to the Bengal chief minister, pointed out sectors where the state can explore further export opportunities with the US.
Speaking virtually at an event organised by the Indo-American Chamber of Commerce, he said the US is the largest trading partner of India with a two-way trade volume of around $130 billion and the US is among the top 10 countries with which India trades to have a trade surplus.
“Merchandise exports from India to the US have overtaken China. This shows the openness of the bilateral relationship,” he said.
Highlighting the potential of merchandise trade between Bengal and the US, Mitra said that gems and jewellery, shrimps, industrial gloves, castings and forgings, human hair, shale gas and coal bed methane are among the sectors where there is scope to expand trade.
“There should be more focus on gems and jewellery exports from Bengal. There is a massive market in the US and Bengal has the best craftsmen,” Mitra said. He said that the state government can provide marketing support to the industry for export to the US.
Mitra further said that there is a need for more technological collaboration between the US and Bengal particularly in the manufacturing sector. Citing an example he said that US technology is being used by companies production of coal bed methane and now companies are looking at opportunities in shale gas where the US already has significant expertise.
Citing investments made by Pepsi, Amazon and Walmart-backed Flipkart in Bengal, Mitra said that there is a need for more investment and employment generation through exports, strengthening of the MSME sector and value-chain integration.
US Consul General in Calcutta Melinda Pavek said that US and India are working on critical and emerging technologies, adding that an open accessible ecosystem is being worked upon in the areas of space, new-age telecom, artificial intelligence and semiconductors.
She said the US government is working hard on reducing bureaucratic and administrative hurdles for a frictionless relationship between the two countries.
