Wednesday, October 16, 2013: The recent US visit of Indian Prime Minister, Dr Manmohan Singh has proved particularly fruitful for the Indian ICT and manufacturing industries. The two countries have vouched to promote these industries with joint endeavours.
During the third bilateral summit between India and US, held on 27 September, the two leaders reflected proudly on the transformation of United States-India relations during the last decade, affirming that the partnership between the two democratic nations is stronger today than at any point in its 67-year history.
A joint statement was issued, which notes that the interests of the United States and India continue to converge, and this partnership will indeed be a defining one for the 21st century. Along with other important issues covered in the statement, both the leaders recognized in particular the role and contribution of the Indian and U.S. Information Technology (IT) industry and the IT enabled service industry in strengthening India-U.S. trade and investment relations. The leaders reaffirmed their commitment to concluding a high-standard Bilateral Investment Treaty that will foster openness to investment, transparency, and predictability, and thereby support economic growth and job creation in both countries. The leaders welcomed progress toward increased engagement by experts from both governments, underlining the need for expeditious progress to address all trade and investment policy issues of bilateral concern so as to remove obstacles and improve the business environment in both countries. In this respect, both sides agreed to consider establishing a Joint Committee on Investment in Manufacturing.
The leaders also welcomed the robust cooperation in cutting-edge scientific research and joint collaboration in science, innovation, and entrepreneurship, for the benefit of citizens in both countries. The United States welcomed the invitation by India for the United States to be Partner Country in India’s Science and Technology Summit in 2014.
