The FICCI’s Ladies organisation (FLO) Hyderabad chapter recently organized a session titled ‘Global Alliances: Strengthening Economic Bridges’.
The session brought together leading representatives of foreign nations such as Ms Jennifer Larson, United States Consular General in Hyderabad, Mr Gareth Wynn Owen, British Deputy High Commissioner, Telangana & AP and Ms Denise Eaton, Trade & Investment Commissioner for Austrade in South Asia.
As per a release from FLO the session was moderated by FLO Hyderabad Chairperson Ms Priya Gazdar which witnessed discussions on bilateral trade and investment opportunities between India and their respective countries.
Speaking on the India-US relationship Ms Larson enthused confidence that the bilateral trade between both the two nations would touch US$ 500 billion within the next 5 years.
Stressing on people-to-people connections, strong democracy and shared values it was informed that India ranks No. 1 in trade with the US.
Around 200 US companies are said to have a presence already in Hyderabad, and more are on the way. Pharma, IT, Defence Manufacturing, Retail continue to top while green Technology, Solar Panels, Yoga and Ayurveda have emerging markets in the USA.
Similarly speaking on Australia Ms Eaton said that India is the 5th largest trading zone for Australia and that with the Comprehensive Economic Cooperation Agreement soon to be signed by the two countries, India could easily climb to top 3 in just a few years.
Critical minerals from Australia can power India’s burgeoning battery-manufacturing industry while precious metals, pharmaceuticals, refined petroleum, and clean energy are potential growth areas.
The British deputy high commissioner Mr Owen highlighted the Educational and cultural exchanges between Indian & UK and said that they contributed to strengthening trade relations.
He informed that UK is the educational destination to 1.3 lakh Indian students and India is UK’s 12th largest trade partner currently. Defence, Education, AI & ML, Technology, Semiconductors were identified as the top 3 sectors for growth in trade with India.
