PM Narendra Modi, President Barack Obama Gun For $500 Bn Trade Target

"In this context, the U.S. government welcomes India's offer for U.S. industry to be the lead partner in developing smart cities in Ajmer (Rajasthan), Vishakhapatnam (Andhra Pradesh) and Allahabad (Uttar Pradesh)," it said.

India will welcome two trade missions in 2015 focused on meeting its infrastructure needs with U.S. technology and services.

The two leaders discussed their concerns over the current impasse (including on the issue of public stockholding for food security purposes) in the World Trade Organisation (WTO) and its effect on the multilateral trading system.

They "directed their officials to consult urgently along with other WTO members on the next steps," the joint statement said.

The two sides committed to work through the Trade Policy Forum to promote a business environment attractive for companies to invest and manufacture in India and in the United States.

They committed to hold public-private discussions in early 2015 under the Commercial Dialogue on new areas of cooperation, including innovation in advanced manufacturing.
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