US president Barack Obama has brought good news for corporate India. Bilateral trade between the two largest democracies would drive innovation and help in creation of jobs, crucial for recovery.
In the wake of the US President’s arrival, trade transactions in excess of $14.9 billion (R70,000 crore) were announced, with the potential to create 53,670 jobs in the country.
Obama had earlier outlined the National Export Initiative, which seeks to double US exports by 2015 and help create millions of new jobs in America.
He also announced that the US technology denial regime would be reviewed and liberalised, boosting bilateral trade.
Amit Mitra, secretary general, Federation of Indian Chambers of Commerce and Industry told HT that the industry body has been focusing on the issue for years now.