Good infrastructure one of the reasons
CHENNAI: A combination of good infrastructure, efficient governance, and more importantly, availability of talented manpower, has made south India one of the best destinations for American businesses, David T Hopper, Consul-General, American Consulate General, Chennai, said on Wednesday.
It was important that Americans realised the benefits of doing business with India as it was emerging as a fast growing economy, he said, conferring the first Indo-U.S Business Cooperation Award on U.S.-based Flowserve Corporation. The Indo-American Chamber of Commerce and the Sanmar Group have instituted the award.
Flowserve is a global player in the supply of pumps, valves, seals, automation and services to power, oil, gas, chemical and other industries.
Companies such as Flowserve were examples of the success of the Indo-U.S. relations, Mr. Hopper said.
Total exports to the U.S. from India amounted to $18 billion and the total imports accounted for $ 6 billion, said R. Anand, chairman, IACC, Tamil Nadu branch, said.
The award was expected to propel further the growth of business with the U.S. and recognise successful Indo-US joint ventures.
The IACC had entered into a memorandum of understanding with Sanmar Group to make the award an annual event. All Indo-US joint ventures would be listed and the U.S. partner would be eligible to receive the award on the basis of guidelines and criteria formulated by the award selection committee of the IACC, he said.
The Indo-U.S. relations in general and business relations in particular were set to grow manifold. The award would be open to individuals and institutions for contributing to the growth of the ties, said N. Sankar, chairman, Chemplast Sanmar Ltd.