Sunday, June 26, 2011

US hopes India would continue with its economic reform

From Lalit K Jha Washington, Jun 23 (PTI) Reiterating its strategic partnership with India which would be a defining relationship of the 21st century, a top Obama aid today hoped that New Delhi would continue with its economic reforms, which it argued is essential for India to realize its goal of a world power.

"We believe that if India wants to continue to grow as rapidly as it has to continue reform that encourage not hindering investment and trade in areas that are key to India''s growth such as agriculture development, financial services and infrastructure," Tom Daley, the Chief of Staff of the US President Barack Obama said.

Daley, as the Chief of Staff, made a rare public appearance today to address the annual convention of the US India Business Council.

Daley who served as the Commerce Secretary under the Clinton Administration said that no one should be surprised by the growing relationship between India and the US.

"For almost two decades, India has had whole liberalising reforms, opening itself to foreign investment and trade and has ripened the benefits of unprecedented economic growth.

As a strategic partner we hope that India continues to move in that direction," Daley said.

Referring to the civilian nuclear deal between the two countries and its implementation by India, Daley said the Obama Administration hopes that the emerging legal and regulatory framework for nuclear commerce in India will permit US companies share some of the safest and most advanced technologies available.

"We will take these steps because in the 21st century it is no secret that success could only come through increased integration of global trade," Daley said.

Speaking on the occasion, Union Minister of Commerce and Industry, Anand Sharma, said that there is immense potential for the growth of India and US relationship, the full potential of which is yet to be realized.

Source

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