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HindustanTimes Mon,21 Apr 2014

Indo-US economies becoming increasingly interdependent:Clinton

PTI  Kolkata, May 07, 2012
First Published: 15:30 IST(7/5/2012) | Last Updated: 15:31 IST(7/5/2012)

US Secretary of State Hillary Clinton today said that both India and America were becoming increasingly interdependent in the economic sphere and their strategic interests were alike.

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"Our economies are increasingly interdependent. When I first visited India in 1995, trade between both the countries was USD nine billion. Today it is more than $100 billion," Clinton told an interactive session here.

Clinton, who was on a two-day visit to the city, said that strategic interests of both the countries were alike.

"Strategic interests are alike. India is a regional and an increasing global power recognised with its economic, diplomatic and military influence," she said.

"It is good news that India is taking up more responsibilities because the international community cannot solve the problems unless all the countries work together," she said.

Referring to India's economic reforms, Clinton said, "A lot of progress has been made and more can be done to reduce the barriers to trade and investment, reforms in manufacturing to retail could create jobs and lower consumer prices in both the countries."

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