US PRESIDENT George W. Bush on Friday said the relationship between India and the US was "closer than ever before" and that it has the power to transform the world. "I have come to India as a friend," Bush said, while addressing a select gathering at the historic Purana Qila.
Beginning his address with a "namaste", Bush spoke on a range of subjects concerning both the countries. He said India has to lift caps on foreign investment and further open its markets to US business. Observing that India and the US would lead the way in meeting the global challenges, he said the biggest challenge was energy.
On the landmark Indo-US nuclear deal, Bush said both sides agreed on the plan to implement this "historic initiative" which would strengthen the economy of both countries.
Paying tributes to India's glorious past, Bush said he was "dazzled" by this ancient land, which was the birthplace of many great religions which live side by side peacefully. "You are inspired by the past and you can see the future. India is a natural ally for us," he said amid applause.
He said the US intends to open a new consulate in Hyderabad and an American Centre in Delhi. Earlier in the day, the US president flew down to Hyderabad.
{{/usCountry}}He said the US intends to open a new consulate in Hyderabad and an American Centre in Delhi. Earlier in the day, the US president flew down to Hyderabad.
{{/usCountry}}Interacting with young entrepreneurs at the Indian School of Business, Bush ruled out protectionist measures to address domestic concerns on outsourcing and favoured easy access for Indian students to American universities and schools.
"I have taken a position, the US will reject protectionism. We won't fear competition. We welcome competition," he said.