India, US launch dialogue to boost trade
September 22, 2015
US and Indian officials launched a high-level "strategic and commercial dialogue" on Monday designed to bolster trade between the world's two largest democracies.
Trade between the two nations is robust, totaling more than $100 billion (89.2 billion euros) last year, but Indian Prime Minister Narendra Modi is hoping to increase this figure fivefold in addition to attracting increased US investment to India.
US Vice President Joe Biden opened the dialogue at a dinner hosted by the US-India Business Council.
"This in my view is a propitious moment in the US-India relationship," Biden told the crowd.
"This relationship will go a long way towards defining the 21st century, and that is not hyperbole," Biden said, adding that the first meeting last year between Modi and President Barack Obama was the most productive the administration has held.
"Our goal is to become India's best friend," he added.
India's economy has seen rapid development in recent decades, lifting millions of people out of poverty. However, the nation is still hoping to attract US investments and technology.
Upbeat atmosphere, but sticking points remain
The main discussions will be held Tuesday with US Secretary of State John Kerry and Commerce Secretary Penny Pritzker leading the American delegation. India will be represented by Foreign Minister Sushma Swaraj and Minister of State for Commerce and Industry Nirmala Sitharaman.
The US and India are optimistic about the prospects for enhanced cooperation, but there are some potential points of contention surrounding tariffs and protection of intellectual property.
Washington is also expected to challenge India to reduce its greenhouse gas emissions ahead of world climate talks in Paris in December. India has been opposed to limits on its own emissions.
Modi is set to begin his US visit this week in New York, where he hopes to meet with Obama ahead of the UN General Assembly. He will then travel to California for meetings with leaders of tech giants Facebook and Google, and electric car maker Tesla.
bw/cmk (AFP, Reuters)