Emphasizing that its strategic partnership with India is of abiding importance to the United States, the United States of America today announced that US-India bilateral trade is flourishing, and is expected to surpass $100 billion this year.
In an interview with Indian media, Deputy Secretary Wiliam J. Burns in New Delhi says both countries have done a considerable amount to remove impediments to further expansion of their trade relationship, including in high technology and defense trade
“Concluding a Bilateral Investment Treaty should be a top priority for both our countries, and would send a positive signal to our business communities.” – Mr. Burns
Economic Reform In India
The US government is encouraged by the Indian government’s recent bold steps toward economic reforms.
“As Treasury Secretary Geithner said, these reforms will foster economic growth, with increased investment, and greater prosperity.” – Mr. Burns
He says once implemented, U.S. investors will respond positively to these measures with concrete, job-creating projects and proposals.
In addition, the US welcomes the progress the Indian government has made with Pakistan on building trade and investment ties and appreciates the leading role India has played in spurring private sector investment in Afghanistan.
U.S.-India Strategic Dialogue
Since Secretary Clinton hosted Minister Krishna in Washington in June 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 us 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.