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Monday, January 26, 2015

India-US CEO summit Monday Jan 26,2015

 
The US President Barack Obama on Monday Jan 26,2015 moved ahead with scaling up the India-US economic partnership which he said “was defined by so much untapped potential” between the two biggest democracies.

Addressing an India-US CEO summit hosted by Prime Minister Narendra Modi,US President Barack Obama committed a $4billion financial package to set the ball rolling and said the two countries would work together to develop new technologies to help India leap forward. 
 


US President Barack Obama said that his visit was not only about symbolism but substance as well, and a vision of greater trade, investment and a stronger economic partnership. 
Prime Minister Narendra Modi, on his part, promised an open business environment and predictable tax regime as US President Barack Obama raised issues of trade barriers and intellectual property, which hinder global business in India.

The financial package announced by US President Barack Obama comprised a $2billion commitment by the U.S. Trade and Development Agency for renewable energy projects in India

The Overseas Private Investment Corporation will lend $1billion to small and medium-sized enterprises in under-served rural and urban areas of India. 
Besides, the U.S. Export-Import Bank will finance $1billion in exports of 'Made-in-America' products to India. 


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