Top Senator Proposes First 100 Days Action Plan for India-U.S.

India and the U.S. have meandered through several rounds of stop and start negotiations about how to proceed with BIT, he said.

"Announcing that both sides will sit down and negotiate a framework would boost confidence that a BIT is possible. A BIT would provide important protections for investors, help unleash needed investment, and provide a level playing field for both countries," he added.

The Obama administration, he said, should name a senior-level official who reports directly to the secretary of defense to lead the defense trade and technology Initiative.

"Under Ash Carter's leadership this was one of the most successful programs and helped shepherd billions of dollars of defense deals through the pipeline as well as clearing out inefficiencies on both sides of the U.S.-India defense trade to make defense trade simpler, more responsive, and more effective," Warner said.

Warner said the U.S. should conduct a review of visa policies with an eye toward further opening of global entry and trusted traveler programs for frequent travelers, including business leaders and investors.