India, US to take relationship to a new level: Shankar

Lalit K Jha

Washington, June 24 (PTI) Describing US as a natural
economic partner of India, a top Indian envoy here has said
that both the nations are committed to take bilateral
relations to a new level.

Indian Ambassador to the US, Meera Shankar described
the transformation that the Indo-US bilateral relationship had
witnessed in recent years and highlighted the complementaries
and convergences in the ties.

Shankar asked US companies to take advantage of the
huge infrastructure development programme, which India
proposes to undertake during the next few years.

She was speaking at a panel discussion on "US-India
Relations: The Road Ahead" organised by the East-West Centre,
a Washington-based think-tank, in association with the FICCI.

The US being the largest economy in the world is
naturally a key economic partner for India, the Indian
Ambassador said. She pointed out the growing two-way
investment between both countries.

Shankar also emphasised the need for more engagement
in various sectors including education, healthcare and high
technology.

The FICCI president, Harsh Pati Singhania, and its
secretary general, Amit Mitra, addressed the panel discussion
during which she spoke about the developing economic ties
between India and the US and numerous opportunities for
further cooperation.

Earlier the Indian Ambassador released a study by
FICCI: 'India Contributes to Employment, Capital Growth and
Tax Revenues in the US - Direct Investment by Indian companies
in 2007-2009'.

The study prepared by Ernst & Young analyses data for
financial years, 2007-08 and 2008-09. Its finding is that
Indian companies made 143 acquisitions across various sectors
in the US; with the total value in excess of USD 5 billion.
PTI LKJ