: International News
India's growth offers huge
Washington, April 27, 2011
With 80 percent of India of 2030 yet to
be built, there are huge business opportunities for American
and Indian companies in varied areas, including defence,
according to a top US official.
Despite some of the shortcomings like corruption and
infrastructure, the tremendous growth that is taking place now
in India present some quite significant opportunities, US
Assistant Secretary of State for South Asia, Robert Blake said
in an interview with Knowledge@Wharton in Philadelphia last
As he pointed out at the Wharton India Economic Forum as "80
percent of the India of 2030 is yet to be built, so there are
going to be vast opportunities in areas such as the
development of airports, regional airports, of railway
networks, of fiberoptic networks," he said
Things are now possible in sensitive areas like defence also,
Blake said noting that as India's Defence Research and
Development Organization (DRDO) has come off the IS Department
of Commerce's entities list, "for the first time we're going
to be able to work with them."
"So there are tremendous sort of synergies that can be
exploited from that," Blake said adding, "I think when you add
in the private sector, which is already very well developed
both in India and the United States, the synergies are
As American companies compete and hopefully win big contracts
like the medium multi-role combat aircraft contract, he said,
"there will be many many opportunities for them to start to
invest" to meet quite significant offset requirements.
"And I think there will be some quite interesting
co-development and co-production opportunities that will
result from those," Blake said.
Asked about some of the risks that could undermine the
opportunities, he said: "one of the principal risks that a lot
of people worry about is simply that the momentum that has
been established now in our relations will not be sustained."
Referring to "political divisions that exist, particularly in
the Indian parliament" Blake said: "I think that the vast
attention that has been given to the corruption controversy
has really crowded out a lot of the opportunities that could
have taken place."
"So I think both of our countries need to just keep our eye on
the ball and remind our leaders of the importance of this
relationship and to continue to make progress."
Noting "now the private sector has eclipsed what the
government is doing, and that's a good thing," he said: That's
exactly what we'd like to see happen."