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Highlights of Obama's address at business summit

Key quotes from US President Barack Obama's address to a 400-strong gathering of business leaders at a summit organised by the United States-India Business Council:

mumbai Updated: Nov 09, 2010 16:20 IST

Key quotes from US President Barack Obama's address to a 400-strong gathering of business leaders at a summit organised by the United States-India Business Council (USIBC):

* I believe the relationship between the United States and India will be one of the defining and indispensable partnerships of the 21st century

* We not only welcome India's rise, but we ardently support it, as we live in an inter-connected world. Commerce between America and India will benefit both

* Americans have helped build India and India has helped to build America

* Knowledge is the currency of the future

* Today your country is one of the fastest growing economies in the world. Many amazing success stories and rapidly expanding market in Asia. The sheer size and pace of India's progress in just two decades is one of the most stunning achievements in human history

* Trade between our two countries is not just a one-way stream - American jobs and companies moving to India - It is a dynamic two-way relationship. It is creating jobs growth and higher living standards in both our countries

* Despite all the progress, the economic relationship between the United States and India is still one of enormous untapped potential

* Last year I was honoured to become first American president to help celebrate the festival of lights (Diwali) at the White House

* There still exists a caricature of India as a land of call centres and backoffices that cost American jobs. That's a real perception.

* In 2010, trade between our countries is not just a one-way street of American jobs and companies moving to India.