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Indian middle class offers opportunities for US exports: Wells

Thursday, September 14, 2017

Washington: India's middle class offers major opportunities for US exports, a senior American diplomat has said, highlighting the extraordinary economic potential of the Indian market.

Acting Assistant Secretary of State for South and Central Asia Alice Wells said rising standards of living in India will drive demand for US products, services and energy in the country.

The emergence of 350 million middle class consumers will drive Indian growth and will also offer major opportunities for US exports, she said addressing a gathering of US India Business Council.

"Emerging middle-class consumers will have new demands in areas such as education, health care, and financial and professional services -- fields where US companies have much to offer. And US agricultural technology and projects can contribute to a diversified nutritional profile that can do much to advance public health in India," she said. Wells said there is extraordinary economic potential in the Indian market.

Recent purchases by SpiceJet and Jet Airways of Boeing aircraft underscore that aviation and its related industries are always areas of massive potential, she said, adding that another area of great promise is the energy sector.

India is the third largest energy consumer in the world after China and the US and will remain one of the largest energy consumers for decades to come, she noted.

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