The Visiting US Vice President Joe Biden has asserted that partnership between India and US economy will help change the course of 21st century. He was addressing Bombay Stock Exchange in Mumbai today. He added with the changing world there is a need to formulate new rules on strategic and economic front. He urged the two countries to deepen their economic relationship to achieve their individual domestic goals.

The US Vice President stated that India and US have a trade and investment partnership that is open and fair. He expressed satisfaction that India and US have made headway with the annual dialogues that cover everything from counter terrorism to higher education.

On bilateral trade, he said that it could rise fivefold and the issues relating to the limit in FDI, inconsistent tax system, barriers to market access and conditions of local content can be negotiated.

The US Vice President said that India's concern on food security needs to be addressed at the upcoming WTO meeting in December.

On co-operation in the nuclear sector, he said that a power project of 6,000 MW can be set up in Gujarat with supply of nuclear reactors from US companies. Mr. Biden said that the US had been sharing intelligence with India on terror in order to avoid a 9/11 and 26/11-like situation in both the countries.