Francisco Sanchez, US Under-secretary of Commerce for international trade, said that Washington wants a removal of India’s ban on foreign investment in multi-brand retailers, which prevents Wal-mart and other international retailers from opening stores for Indian consumers. He asserted that permitting greater foreign entry into the retail sector would improve supply chain and logistics networks, such as roads and warehouses.
On hist first official visit to India, Sanchez mentioned that the US exports to India doubled between 2005 and 2009 and have increased 20 percent in the first seven months of 2010. ‘Growth will accelerate in emerging metropolitan sectors like Pune and Nagpur and new markets will form for the US and Indian businesses,’ Sanchez said, speaking in Mumbai as part of a three-day trip in advance of President Obama’s visit to India in November. The India Expert believes that US Exports to India will accelerate in the next five to ten years, see my article in Business Week on the subject.
