Pining for technology, India is a prime market for U.S. companies specializing in telecommunications equipment. Less than 10 million telephone lines serve a population of 900 million people, and by 2000, that population is projected to reach 1 billion. Waiting lists for phone connections are up to 10 years long. Not surprisingly, U.S. exports of telecommunications equipment to India are expected to grow phenomenally over the next several years.
India is also breaking down barriers to global trade through privatization and by reducing customs tariffs and import restrictions, making its currency easier to convert and easing restrictions on foreign ownership.
The industries the Department of Commerce feels show the most promise for U.S. exporters are aviation, telecommunications, railway modernization, oil and gas field equipment, electronic components, and computers and peripherals.