A high-ranking official of the Barack Obama administration Tuesday urged the need to tap the potential of emerging metros like Pune, Nagpur and Amritsar for the growth of the Indian and US economies.
US Under Secretary of Commerce for International Trade Francisco Sanchez said the 'emerging Indian metropolitan areas like Pune, Nagpur and Amritsar offer great potential for future US exports'.
While delivering the inaugural remarks at the Growth in Emerging Metropolitan Sectors (GEMS) Conference here, Sanchez said that according to estimates, 68 Indian cities would have population of more than one million with average household incomes in urban areas topping four trillion dollars in the next two decades.
'These GEMS cities with their booming population and their increasing demand for goods and services are milestones along a clear roadmap to make India a prosperous and secure world leader. If we can work together to harness their potential, we can grow the economies of both our nations. This is a win-win situation,' he said.
The Department of Commerce's International Trade Administration (ITA) developed the GEMS initiative to help build commercial ties between the US and India's emerging cities and states. Read More