American President Barack Obama, while addressing the US India Business Council meet, announced deals worth 10 Billion US dollars in aviation, power and other sectors that will create 50 thousand jobs in the US. He indicated easing of restrictions on hi-tech trade, removal of trade barriers and partnership in clean energy. Seeking to double the bilateral trade in next five years to create employment in the two countries, Obama said such a situation would be a win-win proposition for both countries. Easing of export rules could result in ending the technology denial regime against Indian entities. Obama described India as market of the future and said Washington was willing to step up investments provided uncertainties relating to tariffs and other barriers were taken care of. India today receives 8 per cent of its total investment from the US. Obama said economic growth in India in the last two decades is stunning achievement in human history. Obama also visited Mani Bhavan which became the focal point for Mahatma Gandhi during the freedom struggle and has now been converted into a museum. In his remarks in the visitors book Obama said Mahatma Gandhi is a hero not just to India but to the whole world. His wife Michelle wrote in the visitors book that the visit is one that she will always treasure. She said life and teachings of Gandhi must be shared with children around the world. The US first lady spent time with differently-abled children. President Obama will be arriving in Delhi this afternoon. He will be visiting the Humayun Tomb and Raj Ghat. He will be given a civic reception at the Rashtrapati Bhavan lawns. He will meet the Prime Minister Dr. Manmohan Singh tomorrow. Obama will address a joint sitting of the two houses of Parliament, in the Central Hall tomorrow evening. A heavy security apparatus has been put in place in the national capital. Around 2,000 police and para-military personnel will be deployed in and around the hotel Maurya Sheraton where Obama will be staying.
News On AIR | November 7, 2010 2:17 PM
Indo-US firms seal deals worth $ 10 billion in aviation, power and other sectors