WASHINGTON, July 25: The India-US Strategic Dialogue to be held in New Delhi next will play a key role in advancing the vital commercial relationship between two countries, a top American official has said.
“There are tremendous opportunities for collaboration between the US and India, the two largest democracies in the world,” US Commerce Secretary Penny Pritzker has said.
“The Strategic Dialogue will play a key role in advancing the vital commercial relationship between our two countries,” she added.
Pritzker heads to India next week to join Secretary of State John Kerry, who would co-chair the fifth India-US Strategic Dialogue on July 31 with External Affairs Minister Sushma Swaraj.
“As the new Indian government defines its policy agenda to focus on economic growth and job creation, we look forward to identifying opportunities for US companies to engage in the market and create increased prosperity in both of our nations,” Pritzker said.
Prior to the Strategic Dialogue, Pritzker will visit Mumbai for meetings with Indian business leaders.
“We will focus on shared prosperity and strategic convergence – more specifically, how partnership between the United States and India can make our countries and the entire global order more prosperous and more secure,” Assistant Secretary of State for South and Central Asia Nisha Desai Biswal told lawmakers during a Congressional hearing.
The Strategic Dialogue, she said, will kick off a series of high-level visits throughout the late summer and fall, culminating in the visit of Prime Minister Narendra Modi to Washington at the invitation of US President Barack Obama.
State Department Deputy Spokesperson Marie Harf said the visit, marking the first US cabinet-level visit to New Delhi since new Indian government was elected, underscores the enormous strategic importance of the US-India relationship and their hopes for the future of the relationship.
“As the Obama administration engages with the Modi government, the US and India will hold discussions on the full range of bilateral and regional issues, including counter-terrorism efforts, regional security initiatives, people to people ties and other crucial facets of our strategic partnership,” Harf said.
In a statement, the Commerce Department said the US enjoys a robust trade and investment relationship with India.
Two-way trade between the US and India has grown five-fold since 2000, and reached about USD 96 billion in 2013.
US companies have made investments in India totalling USD28 billion and Indian foreign direct investment in the US stands at USD nine billion.
The US Commerce Department’s Commercial Service has its largest overseas footprint in India, with staff operating out of seven cities to help US businesses navigate the local markets and facilitate the exports of US goods and services. (PTI)
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