President Barack Obama has called the U.S.-India relationship a “defining partnership of the 21st century.” Our partnership, built on mutual interests, mutual respect, and common values, will deliver progress to the people of India and the United States. We continue to discuss ways our governments, businesses, and people can partner to advance issues that are important to both countries, such as security, energy, technology and trade.
“There is much that we can do together to help address India’s most pressing demands: improving agricultural productivity, expanding manufacturing, strengthening the services sector, promoting innovation and creativity, improving health and education, enhancing security and addressing India’s growing energy needs,” said U.S. Trade Representative Michael Froman.
So, for example, the United States stands ready to support Prime Minister Modi’s “Make In India” initiative, and help India successfully achieve its manufacturing objectives without distorting its trade relations with the United States or other major trading partners.
With its emphasis on innovation and new technologies, and its flourishing movie industry, India has a strong incentive to legislate and to enforce a world-class intellectual property rights regime: an interest it shares with the United States. In fact, President Obama and Prime Minister Modi have already announced the formation of a High Level Working Group on intellectual property rights.
“Ultimately, the most important factor determining the future evolution of our bilateral economic relationship is the quality of the business environment based on transparency, consistency, predictability. Creating regulatory and legal certainty. Maintaining policy stability and forging an innovation environment. Achieving tax simplification and predictability. Raising investment caps and lowering tariffs. Consulting with stakeholders through notice and comment. Streamlining layers of approval and eliminating bureaucratic obstacles,” said Ambassador Froman.
“The future of our partnership remains, as it has always been, ours to define.Now, the responsibility falls on each of us, whether in government, business or the non-profit sector, to build on the recent momentum. We must set our sights on the big, yet achievable accomplishments within our reach. Forward together, we must go further.”