'U.S. wants India to become one of its top 10 trading partner'

Wednesday, 29 June 2011, 09:52 Hrs
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Washington: Noting that India's growth is good for U.S., Treasury Secretary Timothy Geithner today said America wants India to become one of its top 10 trading partner.

"In the United States, we aren't just watching India's rise as an economic power, we support it. We encourage it. And we want to help advance it," Geithner said at a news joint conference with the Indian Finance Minister Pranab Mukherjee at the conclusion of the second India-US Economic and Financial Partnership.

"India's growth is good for us, just as our growth is good for India. I mentioned earlier that India is now our 12th largest trading partner; the President's goal is to have India become one of our top 10," he said.

Geithner said the U.S.-India Economic and Financial Partnership reflects their determination to act on this opportunity and fulfill the commitment President Obama and Prime Minister Singh made to the development of the US-India relationship.

"This relationship is strengthened by a shared vision of the world and a dedication to democratic government, free market economies, respect for pluralism," he said.

"During the President's trip to India in November, he saw firsthand how this relationship is benefitting both Indians and Americans.

He heard about how American manufactured solar cells are helping move Indian cell towers off diesel generators and how a drug discovery technology invented and manufactured in the U.S. is helping find new cures in India for deadly illnesses, including dengue," he said.

"Our economic relationship has shown real progress and has sustained growth in bilateral trade and investment. Yet when you consider the sheer size of our respective economies, it's clear that our relationship presents both our countries with vast untapped potential for much greater trade, investment and economic opportunity," Geithner said.
Source: PTI
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