News / USA

Obama in Mumbai Calls India Market of the Future

President Barack Obama seated with, from left to right, Anil Ambani of Reliance Anil Dhirubhai Ambani, General Electric's Jeffrey Immelt, Boeing's Christopher Chadwick, Bhupendra Khansagra of India's Spice Jet, as he holds a roundtable discussion with CEO
President Barack Obama seated with, from left to right, Anil Ambani of Reliance Anil Dhirubhai Ambani, General Electric's Jeffrey Immelt, Boeing's Christopher Chadwick, Bhupendra Khansagra of India's Spice Jet, as he holds a roundtable discussion with CEO

Multimedia

President Barack Obama says further opening India's markets to U.S. exports is crucial to job growth in the United States, and to economic progress for both countries.  Mr. Obama spoke to American and Indian business executives on the first day of a three-day visit to strengthen economic, political and security ties with India, as part of a 10-day Asian tour.

Mr. Obama met with Indian and U.S. business entrepreneurs, and participated in a roundtable with U.S. executives gathered here as part one of the largest-ever foreign business missions ever undertaken.

In remarks to a business summit organized by the U.S. - India Business Council, the president described the U.S. - India relationship as one of the defining partnerships of the 21st century.

"The United States sees Asia, and especially India, as a market of the future," he said. "We don't simply welcome your rise as a nation and a people, we ardently support it.  We want to invest in it.  And I'm here because I believe that in our inter-connected world, increased commerce between the U.S and India can be and will be a win-win proposition for both nations."

Almost simultaneously, the White House released a list of business deals worth about $15 billion, described as having been finalized or in the process of being completed, which it said support more than 53,000 jobs in the U.S.

These include preliminary agreement for India's purchase of 10 Boeing C-17 military transport aircraft, a $2.7 billion purchase of 30 Boeing 737-800 passenger jets, and an $822 million deal with General Electric to supply engines for Indian light combat aircraft.

Also on the list - a deal for General Electric to supply advanced gas and steam turbines for power generation in India, and the supply of U.S-manufactured locomotives to India.

In an expected though significant move, President Obama also announced an easing of U.S. controls on exports to India, saying Washington will support India's full membership in four multilateral non-proliferation groups, including the Nuclear Suppliers Group and the Missile Technology Control Regime.

Deputy national security adviser for international economic affairs, Mike Froman, told reporters India agreed to adopt the requirements of all four groups. Three of four Indian space and defense organizations would be removed from a U.S. list of restricted entities.

Earlier, the president and his wife, Michelle viewed a marble memorial to victims of the November 26th, 2008 terrorist attacks that killed 166 people, and signed a guest book at the site.

On the roof of the hotel, overlooking the historic Gateway of India, Mr. Obama said the Taj and those who died there became the symbol of the strength and resilience of the Indian people.  Mr. Obama said his visit should send a clear message.

"We visit here to send a very clear message, that in our determination to give our people a future of security and prosperity, the United States and India stand united," he said.

In remarks to media on Saturday, a group of U.S. executives said they hope the president's visit will further open the Indian market to American businesses.

Dave Cote, chairman and CEO of Honeywell, Inc., was one of those responding to reporters asking how increased U.S. sales in India will create jobs in the United States.

"We tend to look at this as a zero sum game, that if we are growing here [in India] that means that something is not happening there.  That's not the case.  Economics is not a zero-sum game.  So we end up growing everywhere and as you grow everywhere you start to add jobs," he said.

Tight security is in force in Mumbai, and in New Delhi, President Obama's next stop on Sunday.  

Mr. Obama will also visit Indonesia, and attend the regional economic summits of the G20 and APEC (Asia Pacific Economic Cooperation) in Seoul, South Korea and Yokohama, Japan.

You May Like

Video Miami Cubans Divided on New US Policy

While older, more conservative Cuban Americans have promoted anti-Castro political movement for years, younger generations say economically, it is time for change More

2014 Sees Dramatic Uptick in Boko Haram Abductions

Militants suspected in latest mass kidnapping of over 100 people in Gumsuri, Nigeria on Sunday More

Video Cuba Deal Is Major Victory for Pope

Role of Francis hailed throughout US, Latin America - though some Cuban-American Catholics have mixed feelings More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Sudan School Becomes Target of Aerial Attacksi
X
December 19, 2014 12:45 AM
The school dropout rate is at an all-time high in Sudan's South Kordofan state because many schools have been destroyed during the three-year civil war between the government and SPLA-N rebel forces. Adam Bailes visited Sudan's Nuba Mountains' region and reports many children are simply too scared to go to school
Video

Video Sudan School Becomes Target of Aerial Attacks

The school dropout rate is at an all-time high in Sudan's South Kordofan state because many schools have been destroyed during the three-year civil war between the government and SPLA-N rebel forces. Adam Bailes visited Sudan's Nuba Mountains' region and reports many children are simply too scared to go to school
Video

Video VOA Reporter Tours Devastated Peshawar School

Islamist militants wearing military uniforms and strapped with explosives attacked a military run school Tuesday in the northwestern Pakistani city of Peshawar. At least 141 people were killed in the horrific attack, most of them young students. VOA reporter Ayaz Gul visited the devastated school and attended the funeral of the principal who courageously tried to save her students from the deadly attack.
Video

Video Nigerians Fleeing Boko Haram Languish in Camp Near Capital

In its five-year effort to impose Islamic law in northeastern Nigeria, the Boko Haram extremist group has killed thousands of people and forced hundreds of thousands to flee. Some of those who ran for their lives now live in squalor on the edges of the capital, Abuja. Chris Stein reports for VOA.
Video

Video Putin Says Russian Economy Will Emerge Stronger

Russian President Vladimir Putin has said his country's sinking economy will not only recover but also become stronger, despite falling oil prices and Western sanctions over Ukraine. VOA's Daniel Schearf reports.
Video

Video Detained Turkish Journalists Follow Teachings of US-Based Preacher

The Turkish government’s jailing of critical journalists has sparked international condemnation and is being seen as an effort to undermine the followers of an ailing Turkish preacher based in the United States. VOA religion reporter Jerome Socolovsky has more.
Video

Video ‘Anti-Islamization’ Marches Increase Tensions In Germany

Anti-immigrant rallies in Germany have been building in recent weeks, peaking Monday night in the city of Dresden where tens of thousands of people turned out to demonstrate against what they call the ‘Islamization’ of the West. Germany has offered asylum to more Syrian refugees than any other country, and this appears to have set off the protests. Henry Ridgwell reports from London.
Video

Video Aceh Rebuilt Decade After Tsunami, But Scars Remain

On December 26, 2004 there was an earthquake in the Indian Ocean so powerful it caused the Earth’s axis to wobble a few centimeters. Onshore on the island of Sumatra, the resulting tsunami was devastating. A decade later, VOA Correspondent Steve Herman reports from Banda Aceh, Indonesia, where although there is little remaining evidence of the physical devastation, the psychological scars among survivors remain.
Video

Video Refugees Living in Kenya Long for Peace in the Home Countries

Kenya is host to numerous refugees seeking safe haven from conflict. Immigrants from Somalia face challenges in their new lives in Kenya. Ahead of International Migrants Day (December 18) Lenny Ruvaga has more for VOA News from the Kenyan capital.

All About America

AppleAndroid