Best days of India-US relationship still ahead: White House

Washington, Jun 24 (PTI) Underlining the commitment of
the Obama Administration to strengthen and deepen its ties
with India, the White House has said that the best days of the
relationship between the two countries are still ahead.
"We believe the best days of our relationship still
lie ahead. Sky is the limit. Today the world's two largest
democracies share common aspirations," said William Daley, the
Chief of Staff of President Barack Obama, in his address to
the annual gala of the US India Business Council – the top
business body of Indian and American businesses in the US.
"We both agree that private sector is essential to
meeting those goals and we can and we will do better. India is
one of the world's largest economies and is the second largest
country but only our 12th trading partner," he said.
"United States is equally critical to India's long
term ambitions to project global power abroad and thereby
providing economic stability at home. There is a debate about
how we realize our shared vision. I think we all agree that we
are committed to our long term partnership that our leaders
envision, but we have to take steps in the near and medium
term that will ensure the viability of our vision," he said.
Obama Administration, he said, would do its part to
continue eliminating barriers and constraints in the growth of
businesses in the two countries.
"We want to strengthen our trade and investment
dialogue to focus the priorities for the US and will continue
to expand our commercial advocacy to support our exports," he
said.
As India begins to consider rules and regulations to
effect manufacturing policies or the openness of their
markets, the American Government and the private sector look
forward to deepen consultations with the Indian government,
the Chief of Staff said.
"We want to continue technical discussions that would
eventually lead to a bilateral investment treaty, which
therefore provides both security and opportunities to
companies in both India and the US," he said, adding that as
India seeks to strengthen its agricultural processes and its
infrastructure the American government and companies would
like to partner with India for another green revolution.
In his address to the leaders of the corporate world
from India and the US, Daley said growing friendship between
India and the US has been welcomed, but no one should be
surprised by it.
"The people of our two nations are bound together by
history and culture. The relationship between US and India is
not merely a commercial one, but commerce is nonetheless
essential to that relationship," Daley said, adding the trade
between the two nations have more than doubled since 2005.
Observing that Obama understands the value and
potential of this relationship and that he sees this as one of
his key priorities, he said that is why he went to India
last November and this was his longest visit to any country
since taking office.
Quoting the words of Obama that the relationship
between India and the US would be the defining partnerships of
the 21st century, Daley said it is no secret that in both the
two countries there are still those who are skeptical about
the direction and pace of our economic relationship.
"That is why the President laid out a different view.
It is a dynamic two way relationship that is creating jobs,
growth and high standards in each of the two countries," he
said.
"This is happening in a variety of ways. First
American and Indian companies are launching joint ventures and
taking advantages of their respective strengths. Indian
companies are helping to renew American manufacture," he said.
"India is a major export market for US goods and
services. US merchandise export to India quadrupled between
2002 and 2009. Continuing this growth is obviously essential
to achieve our goals. From motor cycles, to mining equipment,
fighter jets to fertilizers American goods are reaching the
Indian market," Daley said.
"Although many Americans have broad concerns about
outsourcing its worth noting that trade and services is
roughly even indicating that both of our countries ultimately
benefit in this exchange. I believe we are seeing an important
trend in the beginning of Indian investment in the US and we
obviously welcome this commitment to our economy in this
relationship," he said.
He hoped that India would continue with its economic
reforms to realise its goal of becoming a world power.
"We believe that if India wants to continue to grow as
rapidly as it has, it has to continue reform that encourage
not hindering investment and trade in areas that are key to
India's growth such as agriculture development, financial
services and infrastructure," Daley said.
Referring to the civilian nuclear deal between the
two countries and its implementation by India, Daley said the
Obama Administration hopes that the emerging legal and
regulatory framework for nuclear commerce in India will permit
US companies share some of the safest and most advanced
technologies available.
Speaking on the occasion, Union Minister of Commerce
and Industry Anand Sharma said that there is immense potential
for the growth of India and US relationship, the full
potential of which is yet to be realised. PTI LKJ
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