U.S., Indian economy distinct

Updated on: Friday, March 27, 2009

Madurai: The U.S. and Indian economy have great complementary strengths.

A great demand prevailed in US for the special talents of the southern states of India, said Andrew T. Simkin, U.S. Consul General, Chennai.

Delivering a talk on U.S. India trade relations, Mr. Simkins said, this demand for manpower resulted in relocation of the people along with which trade and services flowed, which was imperative for the recent economical squirt.

The Consulate General in Chennai was the first to initiate across the globe to provide temporary worker visas. Four out of five applicants walked out of the Chennai Consulate with a visa, he said.

As many talented people are available that is in demand by U.S. firms in information technology, software industries and other areas, we continue to issue 25 per cent of the U.S. global total of H1B visas to applicants of this region.

The similar requirement led to many MNCs implanting their facilities in India. The IBM, a US firm had more employees in Bangalore than in any other single place in the world. Such companies are now looking to move tier II cities in order to cut cost, he said.

S. Rethinavelu, chambers senior president, said that bilateral trade between the two countries rose by more than five fold between 1990 and 2006, increasing to $ 33 billion from $ 6 billion.

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U.S., Indian economy distinct

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