The Indo-US joint ventures in the high-tech area have prospered in recent years, but there is a need to to increase our economic ties across the board to the advantage of Indians and Americans alike, he said, and pointed out that US president Bush and PM Vajpayee have committed to a variety of steps to deepen and expand that strategic partnership.
The secretary said the US market remains much more open to Indian firms and their products than is the Indian market to US trade and investment. The Americans will find it less difficult to accept outsourcing if India helps generate more American jobs by supporting trade liberalisation in the WTO and further opening its markets to US exports.
According to him, the business communitys insights and ideas can help both governments create favorable conditions for an expansion of economic relationship. You can help us grasp the great opportunities that scientific advance and the worldwide spread of political and market freedoms offer to both our economies, he said.
A thriving, peaceful, democratic India is taking its place on the world stage, and the US looks forward to acting in close partnership with her, he said, adding both the nations draw strength from our traditions and the talents of diverse citizenries.