India-US to enhance collaboration in shipping & logistics [Apr 2012]

Indo American Chamber of Commerce (IACC), Tamil Nadu hosted a B2B meet on “US – India Business Growth opportunities in Shipping and Logistics”. Francisco Sanchez, Under Secretary of Commerce for International Trade, US Dept. of Commerce presided over the event as the Chief Guest and Jennifer McIntyre, US Consul General, Judy Reinke, Counselor for commercial affairs US Embassy, Delhi as the Guests of Honour. The dignitaries were joined by executives from 20 leading shipping and logistics companies who met up with and discussed with Indian companies in the sector, possibilities for collaboration and potential avenues for investment.
India’s shipping sector continues to expand at a frenetic pace, with a combination of increasing consumer demand and overseas trade volumes boosting shipping volumes to and from the country’s ports. The country’s impressive economic growth is fuelling the rapid development of the country’s container ports in particular, as income levels and demand for consumer goods expands.
Francisco Sanchez said, “In 2011 bilateral trades in goods between India and US was nearly US$ 58 billion. India will grow faster than any other country in the world in the next 20-25 years, but with the excitement causes the challenges. So does its infrastructure need to develop. The current infrastructure network isn’t strong enough to support India’s emergence”, Mr. Sanchez said.
According to Jennifer McIntyre, “India’s economic growth is well known, along with that growth rate comes the side effect of severe infrastructure capacity constraints, this is especially true in the ports and logistics sector. South India is a large and successful manufacturing base that is pushing some of India’s largest ports located here in the south, beyond their capacity. You will also find willing partners here that are more than willing to engage with US companies and US ports to find mutually beneficial commercial solutions to addresses the capacity issues face here”.
Raman Govindarajan, Chairman, IACC Tamil Nadu said “We are expecting this will result into more partnerships, deals and alliances and it is an opportunity for Indian Companies to meet 12 delegates from leading shipping and logistics industry”.

8