Need To Boost India, U.S. Bilateral Trade To $1 Tn: Think-Tank

In order to tackle India's development challenges, it is necessary to create a 'surge' - a rapid and intense deployment of talented individuals and technical experts to address the critical and immediate challenges - in areas such as energy, infrastructure, healthcare and agriculture, the paper said.

"A surge provides an opportunity to invite companies and experts from the U.S. to begin working on these critical areas," it said.

Noting that technologies can create millions of new jobs and opportunities in India, the think-tank said India needs to build a Silicon Swadesh - a robust entrepreneurial ecosystem, modelled on Silicon Valley - to support homegrown innovation and entrepreneurship.

According to the paper, India needs to build a ramp for poverty alleviation which would enable the 42 per cent of Indians that live under the World Bank poverty line of $1.25 a day to access the services of NGOs and social entrepreneurs.

"The country needs to take advantage of next generation technologies for which it is well suited, such as synthetic biology, 3D printing, mobile, social and big data, to create an industrial base in India from which products and services can be sold and jobs created," it said.

The U.S. is a pioneer in many of these technologies, and a fruitful collaboration between the two countries would involve mainly research and sales, the paper said.

Observing that Indian-Americans have contributed largely to the entrepreneurial, small business and healthcare sectors in the U.S., the research paper says India can continue to feed skilled professionals in the U.S.

The think-tank said the U.S. can leverage the customer base of 100 million Indians who study and work abroad and maintain a connection to the U.S. throughout their lives as their relatives reside there. Prime Minister Modi will meet President Obama at the White House on September 29 and 30, U.S. officials said.

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