'$10bn trade deals have elevated India, US ties'

Nov 08, 2010 |

IANS

Tags:

New Delhi: President Barack Obama on Monday said the $10-billion trade agreements signed in Mumbai were a step forward in elevating India as a top trading partner of the US.

"Mumbai trade deals is a step forward for elevating India as the top trading partner of the US," Obama said in a joint press conference with Prime Minister Manmohan Singh here.

The two countries on the first day of Obama's four-day visit to India announced almost $10 billion worth export deals that could lead to more than 50,000 American jobs.

India and the US have reached agreements on two lucrative defence deals worth nearly $5 billion that will give employment to nearly 26,500 people in job-starved America.

The deals also include reaching a preliminary agreement on the purchase of 10 C-17 Globemaster III military transport aircraft that India will purchase from the US.

This order valued at approximately $4.1 billion will support American Boeing company to create an estimated 22,160 jobs.

Obama said the US welcomed the 'agreement on supply of C-17 cargo planes to India'.

India has also declared the lowest bidder and selected the US-based General Electric Company for a contract to provide the Indian Aeronautical Development Agency with 107 F414 engines to be installed on the indigenously produced Tejas light combat aircraft.

This transaction is valued at approximately $822 million, all of which is US export content, supporting an estimated 4,440 jobs.

Post new comment

<form action="/comment/reply/41003" accept-charset="UTF-8" method="post" id="comment-form"> <div><div class="form-item" id="edit-name-wrapper"> <label for="edit-name">Your name: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="60" name="name" id="edit-name" size="30" value="Reader" class="form-text required" /> </div> <div class="form-item" id="edit-mail-wrapper"> <label for="edit-mail">E-Mail Address: <span class="form-required" title="This field is required.">*</span></label> <input type="text" maxlength="64" name="mail" id="edit-mail" size="30" value="" class="form-text required" /> <div class="description">The content of this field is kept private and will not be shown publicly.</div> </div> <div class="form-item" id="edit-comment-wrapper"> <label for="edit-comment">Comment: <span class="form-required" title="This field is required.">*</span></label> <textarea cols="60" rows="15" name="comment" id="edit-comment" class="form-textarea resizable required"></textarea> </div> <fieldset class=" collapsible collapsed"><legend>Input format</legend><div class="form-item" id="edit-format-1-wrapper"> <label class="option" for="edit-format-1"><input type="radio" id="edit-format-1" name="format" value="1" class="form-radio" /> Filtered HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd></li><li>Lines and paragraphs break automatically.</li></ul></div> </div> <div class="form-item" id="edit-format-2-wrapper"> <label class="option" for="edit-format-2"><input type="radio" id="edit-format-2" name="format" value="2" checked="checked" class="form-radio" /> Full HTML</label> <div class="description"><ul class="tips"><li>Web page addresses and e-mail addresses turn into links automatically.</li><li>Lines and paragraphs break automatically.</li></ul></div> </div> </fieldset> <input type="hidden" name="form_build_id" id="form-2c509c55a0d92c14485a8f1dd80cb359" value="form-2c509c55a0d92c14485a8f1dd80cb359" /> <input type="hidden" name="form_id" id="edit-comment-form" value="comment_form" /> <fieldset class="captcha"><legend>CAPTCHA</legend><div class="description">This question is for testing whether you are a human visitor and to prevent automated spam submissions.</div><input type="hidden" name="captcha_sid" id="edit-captcha-sid" value="88681052" /> <input type="hidden" name="captcha_response" id="edit-captcha-response" value="NLPCaptcha" /> <div class="form-item"> <div id="nlpcaptcha_ajax_api_container"><script type="text/javascript"> var NLPOptions = {key:'c4823cf77a2526b0fba265e2af75c1b5'};</script><script type="text/javascript" src="http://call.nlpcaptcha.in/js/captcha.js" ></script></div> </div> </fieldset> <span class="btn-left"><span class="btn-right"><input type="submit" name="op" id="edit-submit" value="Save" class="form-submit" /></span></span> </div></form>