Mumbai : In the spirit of give and take, US President Mr. Barack H Obama on Saturday signalled the easing of export controls on dual use technology even as he announced signing of deals Worth $ 10 billion with US companies, something he said would create 50,000 jobs back home.
Hammered by plummeting approval rating and the loss of the House of Representatives to the Republicans, and under pressure to offer his Indian hosts something more tangible to chew on rather than soaring rhetoric.
His 20- minute special keynote address at the US—India Business and Entrepreneurship summit at The
Trident was understandably peppered by references to creation of Jobs both in the US and India and other key issues such as the need for a strong Partnership between the two largest democracies of the world, developing the spirit of entrepreneurship and innovation and the need for India to lift certain trade and investment barriers, “ Even as we strengthen our national security, we should make sure that unnecessary barriers don’t stand in the way of high-tech trade between our countries. We will work with India to fundamentally reform our control on exports, which will allow greater cooperation in a range of high-tech sectors to strengthen our relation.” He said commenting on the issue of dual use technologies, something the Indian side has been lobbying for a while. The easing of export rules could benefit entities like DRDO and ISRO, which have been denied technologies from the US in the past. But,
on the whole, it was really jobs amd emphasis on the partnership that dominated the US Presidents
speech, who is on a three-day maiden trip to India, which he himself described as his longest to any country,after taking over as the President.
There is no reason why India cannot be our top trading partner, “ Of all the goods that India imports less
than 10% comes from the US. , Of all the goods America exports to the world less than 2% go to India,”
Obama said. Here he mentioned that US exports to India is less than US exports to The Netherlands ,a
country with a population less than that of Mumbai.
Conclusion :Indo-American deals will be in the interest of India our strong relationship with US is the needs of times.