U.S., India Ink Deal to Tap ‘Limitless’ Trade Potential

(Industry Week – Agence France-Presse)

The United States and India launched a new blitz to boost economic, trade and financial cooperation on March 17. They signed a framework for cooperation on trade and investment to build on trade growth, which has more than doubled in the last five years.

“There is almost limitless potential for growth in trade between our two countries, and that can contribute to economic recovery and job creation in the United States and continued economic growth in India,” said Ron Kirk, the top U.S. trade official. “We can realize that potential by working together toward the goals set forth in the framework agreement,” by encourage technological innovation, increasing agriculture, services, and industrial goods and boosting investment flows, he said.

Kirk, the U.S. Trade Representative, inked the trade and investment pact with Indian minister of commerce and industry Anand Sharma.

The “numerous synergies linking the economies have not been tapped fully as yet, he said, adding that the pact could “create the right environment to ensure that the relationship brings maximum benefit to the maximum number of people.” Read more here.