Identifying 10 areas that could help triple Indo-US trade by 2010, industry body Assocham has prepared a roadmap to boost trade between the two countries to over $120 billion from the current $40 billion.
Cooperation in 10 potential areas such as biotechnology, pharmaceutical and healthcare, telecom, information and knowledge based industries, retail sector, real estate, automotive industry, media and entertainment, infrastructure development, technology, agriculture and nanotechnology could help trade grow three fold by 2010, Assocham's Paper on 'Indo-US Business opportunities' said.
"Pharmaceuticals and healthcare could be a major area for US India cooperation. However, the US needs to adopt few actions to strengthen cooperation in this sector by granting Indian companies accreditation and approvals to export items manufactured in India on liberal terms, Assocham president Anil K Agarwal said.
The Indian pharma market comprises eight per cent of global market volume-wise and would grow from $7 billion in 2002-03 to $25 billion by 2010.
The US FDA and the Indian FDA should work jointly towards 'friendly' regulatory legislations, Assocham's paper pointed out.
The consumption of biotech products would cross $4.2 billion by 2010 as against $1.8 billion in 1999, Assocham said, adding IT sector would benefit from removal of restrictions on research and development collaborations.
The software industry expects to generate $87 billion including $50 billion from exports by 2008.Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
© 2026