U.S., India Can't Achieve Economic Vision Without Other: U.S.

WASHINGTON: Neither the U.S. nor India can achieve its economic vision without the other, a top U.S. official said as the two countries begin their first strategic and commercial dialogue.

"Sustained engagement on the commercial side is new for this partnership," U.S. Commerce Secretary Penny Pritzker said, announcing a new U.S.-India Innovation Forum.

Saying that Indian government is making private sector investment safer and productive, Commerce Minister Nirmala Sitharaman asserted that through dialogue and trade, India-U.S. economic ties are only going to get better.

"India stands out as 'shining star' in light of sagging global demand," she said, noting without "taking potshots" at India's neighbours that markets have held up pretty well in comparison.

Sitharaman and Pritzker who are leading the commercial side of the dialogue were discussing U.S.-India economic relationship at the Carnegie Endowment for International Peace, a Washington think tank, as part of the U.S.-India CEO Forum.

As India and U.S. have set a goal of increasing their bilateral trade fivefold to $500 million in five years, the US Commerce Department is hosting the CEO Forum to increase the role of the private sector in the India-U.S. engagement.

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