India has unlimited potential to grow: US official says

B D Narayankar

Press Trust of India

Bangalore, Aug 24: US Foreign Commercial Officer James Golsen today said India has unlimited potential to register good economic growth compared to other Asian countries, given the current state of trade it has with the
US.

"India is a huge market ... it is a unique model of incredible interest to our firms. Japan, Korea and China have come up with systematic formula, which doesn't exists in India (India is flexible)," he said.

He said the US saw lot of opportunities in South India in sectors such as infrastructure, artchitecture, engineering, education, aerospace and machine tools.

"In fact, as many as 21 universities in the US are looking for partnerships," he added.

He also said the current downgrade in the US has forced domestic companies to explore new markets and partnerships in countries like India.

"The downgrade in the US has driven a lot of interest for our companies to seek opportunities elsewhere .. and India is a natural location for investments and doing business," he said.

He said though the US economy was fragile at the moment, the fundemantals were strong and innovations in IT sector in India and US would drive both countries growth
index.

Replying to another question, he said though the US was experiencing downgrade, many companies were investing in the country as a result of good growth achieved in trade sector.

"Trade contributed highest percentage of growth to our GDP last year and this has evoked interest in companies to invest in the US ... and this is getting us through on current downgrade ... trade is in which we see a glimmer of hope," he said.