January 22, 2015: Indian and US organisations are anticipated to sign statements during the upcoming visit of US President Barack Obama for establishing electronic clusters and making smart cities a reality.
Different pacts and JVs are expected to be signed to augment economic cooperation between firms in India and US before the President, sources said.
As well, during the India-US CEO Summit to be held on January 26, both the countries would talk about a number of issues that include totalisation agreement, visa associated troubles, obligatory local content demand and modes to fund improvement of Indian infrastructure, they said.
US President Barack Obama is arriving in India on January 25th, as he is the chief guest for the Republic Day celebrations in the country. The US President is expected to address the CEO Summit.
If US joins hands with India for setting up of electronic clusters in the country, it would help in curbing import bill of electronic goods that has increased by 23 per cent to US $3.14 billion in December 2014.
Sources also added that the pact may help in boosting exports of electronics items.
As per industry experts, electronics import in India is set to surpass oil import bill by the year 2030. The annual electronics import stand at US $35 billion.
With regards to building smart cities in the country, the government is planning to develop 100 smart cities which requires lighting solutions.
