United States assured Indian companies on Wednesday of a pie in the huge sub-contracting business offered by the reconstruction work in the war-ravaged Iraq, Association of Indian Chambers of Commerce said.

This assurance was extended by Joe Casey, head of the government contracts regulation on sub-contracts work in Iraq to a seven-member visiting Chamber delegation headed by president R K Somany, a statement said in New Delhi.

The Chamber delegation comprises of alternate president M K Sanghi, Crompton Greaves chairman K K Nohria, ITC chairman emeritus K L Chugh, Indo-American Chamber president Vinod Chandiok, Srei International president Sunil Kanoria and secretary general Jayant Bhuyan.

Earlier addressing the 28th annual meet of the US-India Business Council, Somany urged the developed nations to open up their markets so that goods and services of developing nations can have better market access.

Referring to reported moves by some states in the US to ban outsourcing from India, Somany said the trend was "dangerous".

Stating that the domestic socio-economic and political concerns cannot be wished away, he said the key to global development must be through free trade and markets to international competition.