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

For Lebanon-based Refugees, Desperation Fuels Perilous Passage

In a war that has caused an estimated three million people to flee Syria, efforts to make perilous sea journey in search of asylum expected to increase More

South African Brewer Tackles Climate Change

Mega-brewer SAB Miller sent delegates to climate summit in Peru, says it is one of many private companies taking their own steps to fight climate change More

Indonesia Reports Increase in Citizens Joining Islamic State

Officials say more than 350 of its citizens are now in Syria or Iraq to fight with Islamic State - 50 more than last month 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.
Will Pakistan School Shooting Galvanize Pakistan Against Extremism?i
X
Ayesha Tanzeem
December 17, 2014 11:54 AM
The attack on a military school in Pakistan’s northwest city of Peshawar left 141 dead, including 132 children. Strong statements of condemnation poured in from across the world. The country announced three days of mourning, and the leadership, both political and military, promised retribution. VOA's Ayesha Tanzeem looks at how likely the Pakistani government is to clamp down on all extremist groups.
Video

Video Will Pakistan School Shooting Galvanize Pakistan Against Extremism?

The attack on a military school in Pakistan’s northwest city of Peshawar left 141 dead, including 132 children. Strong statements of condemnation poured in from across the world. The country announced three days of mourning, and the leadership, both political and military, promised retribution. VOA's Ayesha Tanzeem looks at how likely the Pakistani government is to clamp down on all extremist groups.
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.
Video

Video Turkey's Authoritarianism Dismays Western Allies

The Turkish government has been defiant in the face of criticism at home and abroad for its raids targeting opposition media. The European Union on Monday expressed dismay after President Recep Tayyip Erdogan lashed out at Brussels for criticizing his government's action. Turkey's bid to be considered for EU membership has been on hold while critics accuse the NATO ally of increasingly authoritarian rule. Zlatica Hoke reports.
Video

Video US-China Year in Review: Hong Kong to Climate Change

The United States is pushing for a code of conduct to resolve territorial disputes in the South China Sea as it works to improve commercial ties with Beijing. VOA State Department correspondent Scott Stearns reports on a year of U.S. policy toward China from Hong Kong to climate change.
Video

Video Japanese Leader’s Election Win Raises Potential for Conflict with Neighbors

Japan’s Prime Minister Shinzo Abe and his allies easily won a two-thirds majority in parliament Sunday, even though the country has slipped into recession under his conservative policies. VOA’s Brian Padden reports from Seoul, that the prime minister’s victory will empower him to continue economic reforms but also pursue a nationalist agenda that will likely increase tensions with Japan’s neighbors.
Video

Video Nuba Mountain Families Hide in Caves to Escape Aerial Bombings

Despite ongoing peace talks between Sudan's government and the rebel Sudan People’s Liberation Movement-North, or SPLM-N, daily aerial attacks continue in South Kordofan province’s Nuba Mountains. Adam Bailes was there and reports for VOA that government forces are targeting civilian areas, rather than military positions, with their daily bombardments.

All About America

AppleAndroid