US investments in India soared high
With a common interest in creating a world of peace and prosperity, the United States of America and India are making lives better for the citizens of both nations for their commendable partnership in business.
In her remarks in New York City, US Assistant Secretary Nisha Desai Biswal said U.S. investments in India have soared – from a total of $7.7 billion in 2004 to $28 billion today.
With the ongoing strong partnership in commerce, over the past few years, India has become the second fastest growing source of foreign direct investment into the United States.
In addition, two-way trade has nearly tripled from $36 billion in 2005 to $104 billion in 2014, as the two countries work towards a planned $500 billion in trade.
Today, there are more than 500 U.S. companies active in India, leading to an increase in employment. Also, the number of Indian companies operating in the United States has increased from roughly 85 companies in 2005 to more than 200 companies today.
On free trade
As President Obama seeks a future where free markets create wealth and opportunity, both nations are realizing this future in growing commerce between the two nations.
Annual two-way trade is now over $100 billion, five times what it was ten years ago, and both nations want to see it increase to $500 billion.
“That goal is achievable, especially if we can move forward on a high-standard Bilateral Investment Treaty.” – Ms. Biswal
In addition,both nations are working to advance regional connectivity through the creation of new transit corridors and the lowering of trade barriers.
US-India Partnership Going Strong
In october 2012, stressing the importance of the US-India relationship in the 21st century, the United states announced that it was boosting iefforts to strengthen strategic cooperation with India.
India’s recent economic rise expanded its role and deepened its stake in shaping the international system. The US is counting on India’s rise as a truly global power – one that looks east and west, a strategic partner for economic growth, security, and the provision of public goods.
As the world’s economic and strategic center of gravity shifts east, the United States is not the only nation emphasizing its role as a resident diplomatic, economic and military power in the Asia-Pacific.
India and the United States have a powerful and shared interest in an Asia-Pacific where economic interdependence drives growth and shared prosperity.
In addition, India is revitalizing centuries-old commercial ties with countries to its east and making headway on an Indo-Pacific corridor through Bangladesh and Burma that connects South and Southeast Asia.
Both the United States and India have a strong interest in a peaceful, stable future for Afghanistan.
India has committed more than $2 billion in development assistance to Afghanistan since 2001, building on ties that go back to the early Indus Valley civilizations.
Deeper defense and security ties have become another leading indicator of a burgeoning strategic partnership.
As India’s military influence grows, the US hopes that the partnership can become one of its closest in the region.
U.S.-India Strategic Dialogue
Since Secretary Clinton hosted India’s Minister Krishna in Washington in June 2013 for the third U.S.-India Strategic Dialogue, the interaction between the two governments has continued to deepen and expand. Strong support across the political spectrum in the United States, as well as in India, gives reason for continued optimism about the bilateral relationship in the years ahead.
The US considers India a model of democratic governance, tolerance and rule of law, that can play a critical role throughout the Middle East and North Africa, as well as East Asia, to support the strengthening of democratic institutions, civil society, education, and many other fields.