BENGALURU: Setting aside the hue and cry about Obama’s visit to India, there is some good news to the Indian economy. Obama is going to the first ever U.S President who would be attending the prestigious Indian Republic Day Parade as the Chief Guest at the Rashtrapati Bhavan. This ceremonious visit also marks a great leap in the economic front,  reports Business Standard.

This particular visit is said to give a major fillip to India-U.S. economic ties. Major targets have been set well before the visit. The target is to increase the bilateral trade between the two countries in goods and services, which is $100 million at present to $500 million in the near future.

This is an epical visit by the only President of United States who visited India twice in Presidential tenure. Not just that, but one cannot ignore the fact that Obama’s visit in this period of time, when the country is undergoing a paradigm political and economic shift. More so the country under the leadership of Bharatiya Janata Party seems to be keen on getting investments across various economical verticals. The new India in 2014 witnessed some bold changes in the economy that excited countries world over to invest in India.

Citing the growing economic ties between the two nations, a former diplomat who served as India’s ambassador to the U.S quoted that, “Both sides will utilize this visit to leverage two-way trade between both partners. This visit by Obama comes within months of (the Indian) prime minister’s hugely successful visit to their country in September. Though this visit might not yield anything fruitful immediately, it will set the tone for years to come. This visit is very crucial in terms of the improving atmospherics and sentiment, which are very important.”

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