Stating that there was a lot of untapped potential in the trade relations between India and the USA, James M. Fluker, U.S. Commercial Service, U.S. Consulate, Chennai, said that Tier II cities like Madurai could utilise this potential to their advantage.
Interacting with the entrepreneurs associated with the American Business Corner (ABC) functioning in Tamil Nadu Chamber of Commerce and Industry here on Monday, Mr. Fluker pointed out the the trade relation between India and USA was going strong as indicated by the 37 Billion US Dollar Foreign Direct Investment received in total by both the countries from each other in 2016.
He highlighted that the President of the USA Donald Trump has in particular shown special and personal interest in improving the bilateral relationship with India.
Arguing that cities like Madurai had a lot of potential to make use of this growth in trade relationships, he pointed out that the first ABC was inaugurated in Madurai for this purpose.
He said that there were 10 such ABCs operating in different cities in the country now.
Pointing out that a considerable number of entrepreneurs from small and medium scale industries from Madurai were part of the first batch of entrepreneurs selected from Madurai for a special one year intensive management training in Stanford University’s School of Business, he encouraged more entrepreneurs to make use of this programme in future.
S. Rethinavelu, Chairman, Tamil Nadu Chamber Foundation, highlighted the guidance needed for small and medium scale entrepreneurs in Madurai in finding markets in the USA for their products and to explore the possibility of technology transfers from the USA, which could help the entrepreneurs here.