Inaugural U.S.-India Strategic and Commercial Dialogue
Under Secretary of Commerce for International Trade Stefan M. Selig introduces the U.S.-India Strategic and Commercial Dialogue, or “S&CD.” As the signature annual forum for India and the United States, the S&CD will strengthen and deepen commercial engagement between the two countries.
Transcript of this video –
0:03 With our two countries representing the world’s two largest democracies,
0:06 I recently had the privilege of traveling to India to announce this month’s launch
0:11 of the inaugural U.S.-India Strategic and Commercial Dialogue or “S&CD.”
0:16 As the signature annual forum for India and the United States, the S&CD will strengthen
0:21 and deepen commercial engagement between our two countries.
0:24 The dialogue’s commercial track will focus on cultivating near-term and long-term trade
0:29 and investment opportunities, securing strategic-commercial collaboration;
0:33 and resolving market obstacles for the American and Indian private sectors.
0:38 The S&CD will follow the U.S.-India CEO Forum, where American
0:42 and Indian business leaders will provide insight to help lawmakers craft policies in such areas
0:47 as trade and investment, technology exchanges, and workforce development.
0:52 By advancing our commercial partnership, the Dialogue will ensure
0:55 that American businesses experience the maximum benefits of the Indian economy.
0:59 It will also ensure that our two nations realize the full potential
1:04 of our commercial partnership, and that we will deepen our engagement
1:07 as engines of mutual growth and prosperity.
1:11 Recent estimates indicate that more than 180,000 American jobs are tied
1:15 to U.S. goods and services exports to India.
1:20 And in 2014, two-way trade in goods and services reached a record-exceeding $100 billion.
1:28 But with our two nations representing two of the largest economies in the world,
1:32 there is room for enormous growth.
1:34 The S&CD will unlock that growth by laying a foundation
1:38 for long-term commercial participation.
1:40 That foundation will include increasing our trade relationship five-fold from $100 billion
1:46 to $500 billion; improving the ease of doing business in India for American firms;
1:52 securing sound IP protections, and creating a 21st century infrastructure partnership
1:57 that will allow U.S. companies to access India’s $1 trillion infrastructure market.
2:03 In short, we stand ready to work through the S&CD to ensure that American
2:07 and Indian businesses experience the full growth of the U.S.-India commercial partnership.
2:13 Growth that will produce more jobs, greater profits, and broader prosperity
2:17 for American workers and businesses.
2:19 Thanks for listening.