Ready to extend financial and technical support, says official
India is the second largest portfolio for the US Trade Development Authority (USTDA) after China and supports 100 activities in the country so far, USTDA’s Country Representative Mehnaz Ansasri said at a seminar on ‘Ports and infrastructure’ conducted in association with the Vizagapatam Chamber of Commerce and Industry and the American Business Corners (ABC) here on Friday.
The USTDA, concentrating on the aviation sector in India so far, would like to focus on the port sector.
It was ready to extend financial and technical support for mutual benefit, Ms. Ansari said.
“We also give grants, hold conferences and workshops, take up pilot projects, and extend technical assistance. We focus on Tier II cities and small companies,” she said.
A pilot project was taken up in the Chennai airport in association with the Airports Authority of India for smooth landing and take-off of flights. The USTDA was keen on taking up port development activities, she said, and wanted local companies to utilise the ABC functioning at the local chamber of commerce. It would provide funds and had supported projects in Jordan, Indonesia, Colombia, and Bangladesh.
It held a port reverse trade mission during November last in which chairmen of nine major ports and representatives of three private ports participated.
Explaining the conditions for support from the USTDA, Ms. Ansari said three years of existence was enough for even a small company to work with it and the only mandate was a US company would execute 80 per cent of the work at the funding stage. Minister Counsellor for Commercial Affairs Judy Reinke said Tier II and Tier III cities could make use of the USTAD.
Counsul-General at Hyderabad Katherina Dhanani said it would be a win-win situation for both the American and Indian companies.
During the interaction, K. Krishna Kumar, of KR and Sons, wanted the USTDA to find ways to reduce pollution and handling of dirty bulk cargoes by using low-cost technologies. G.L.N. Raju wanted health care segment included.
Secretary-general of local chamber of commerce M. Narayana Rao welcomed.
Before the seminar commenced, Minister for Ports and Infrastructure Ganta Srinivasa Rao interacted with members of the USTDA delegation.