News / Economy

Biden Calls on India to Improve Investment Conditions

U.S. Vice President Joe Biden delivers an address at the Bombay Stock Exchange (BSE) in Mumbai, July 24, 2013.
U.S. Vice President Joe Biden delivers an address at the Bombay Stock Exchange (BSE) in Mumbai, July 24, 2013.
VOA News
U.S. Vice President Joe Biden is in Mumbai, India's financial capital, on the second leg of his four-day visit to the South Asian country focusing on boosting diplomatic ties and trade. 
 
During an an address to the Bombay Stock Exchange Wednesday, Biden called on  India to improve investment conditions to improve bilateral trade which currently stands around $100 billion.
 
"Imagine what our two countries can achieve together in this 21st century. Not only for one another, but for economic stability of the region as well as the world," the vice president said. 
 
He also proposed starting three-way talks between the U.S., India and China saying all three share common interests.
 
"We are three big nations - China, India, and the United States - with our own perspectives. We have significant common interests, all three of us, and the entire region would benefit if we coordinated more closely. America and India have already built trilateral strong dialogue with Japan. This past time we launched one with China."
 
After his speech, Biden held a roundtable discussion with Indian business leaders where he noted the 'unlimited potential' of the two countries relationship.
 
"We mean what we say when we say that this relationship between India and the United States has unlimited potential, and there's no reason why trade, commerce and intercourse between our countries can't increase expidentially [exponentially]," he said.
 
Biden will take part in a women's empowerment event Thursday in Mumbai. 
 
On Tuesday, the U.S. vice president met Indian Prime Minister Manmohan Singh and other political leaders in New Delhi. 
 
The White House has said the India trip is part of its rebalancing efforts toward the Asia-Pacific region, calling India an increasingly key player in the region.
 
Later Thursday, the vice president will travel to Singapore for a two-day visit. 
 

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