Economics, Trade & Agriculture
At the close of U.S. Secretary of State Hillary Rodham Clinton's meetings with the Government of India July 20, 2009, the two governments issued a joint statement regarding their intentions to accelerate the growth of their bilateral relationship to enhance global prosperity and stability in the 21st century. The two governments outlined a Strategic Dialogue that will focus on five principal pillars: strategic cooperation; energy and climate change; education and development; economics, trade and agriculture; science and technology, health and innovation. Through a coherent structure of bilateral working groups, the two governments will address a wide range of issues with the goal of producing concrete results.
Economics, Trade and Agriculture working groups will continue and strengthen our discussions on business, trade and food security. Here are some of the activities between the two governments that are advancing economics, trade and agriculture cooperation.
- Deputy Under Secretary of Commerce Teresa Rea recently visited India, October 20, 2011
She discusses how Hollywood and Bollywood can benefit from safeguarding intellectual property rights here. She also talks about how the right policies on intellectual property protection can often spur production of more goods and services and can create more jobs here.
- Secretary Clinton on Economic Statecraft, New York, October 14, 2011
"Now, it is certainly the case that economic recovery is mostly a matter of domestic policy, political will, and the willingness of the American people to really keep focused on tomorrow. But while our efforts may begin at home, they cannot end there."
- On September 22, 2011, the U.S.-India CEO Forum met under CEO Forum co-chairs Ratan Tata and David Cote in Washington, DC.
The members of the U.S.-India CEO Forum are pleased with the commitment of the U.S. and Indian governments to prioritize this important economic and strategic relationship. The members of the CEO Forum look forward to continuing joint efforts to increase bilateral trade and investment and promote corporate partnership as a way to realize the tremendous potential of this relationship.
- U.S. Treasury Assistant Secretary Daniel I. Glaser speaks on U.S.-India Economic Relationship, 27 July 2011
As the world’s two largest democracies, we have both embraced free market economies to drive our economic and financial growth and to provide our citizens with the social and economic opportunities that are essential for social justice and individual well being.
- Fact Sheet: Prosperity, July 19, 2011
Minister of External Affairs S.M. Krishna and Secretary of State Hillary Rodham Clinton reaffirmed their desire to bolster economic ties between the United States and India, creating jobs and improving livelihoods for the citizens of the United States and India.
- "U.S.-India-Building a 21st Century Trade Partnership," Remarks of Assistant Secretary Camuñez, July 1, 2011
When President Obama visited India last November, he spoke eloquently of our friendship and what it means not just to him personally, but to the people of the United States and India as stewards of the world's two largest democracies.
- Joint statement on the 2011 U.S.-India Economic and Financial Partnership, June 28, 2011
Between 2000 and 2010, Indian exports to the United States grew by nearly 180 percent and American exports to India increased over four times. Meanwhile, combined bilateral U.S.-India foreign direct investment grew by nearly 165 percent between 2005 and 2009.
- Yes, together we can, Ambassador Roemer, May 23, 2011
Our economic partnership has made significant progress in the past two years on the trade and commercial front. Our vibrant economies are taking advantage of many opportunities in infrastructure, clean energy, mining, and technology for oil refining, and realising the president’s vision of increased cooperation between the US and India that "will be a win-win proposition for both nations."
- Interview of A/S Robert O. Blake, Jr. with TV Asia, April 22, 2011
I think there’s a tremendous upside in virtually all areas of economic cooperation.
- A Strategic Economic Partnership
Assistant Secretary Blake delivers remarks at the Wharton India Economic Forum, April 22, 2011.
- Address on U.S.-India commercial relations
U.S. Commerce Secretary Gary Locke delivered the keynote address today at the Confederation of Indian Industry (CII) luncheon in New Delhi, February 7, 2011 where he discussed increasing the kind of mutually beneficial trade that provides win-win opportunities for both countries.
- Secretary Clinton meets Finance Minister Mukherjee
Secretary Clinton met with Minister Mukherjee to discuss developments in the bilateral relationship, October 8, 2010.
- Obama Administration Trade Official Francisco Sánchez Highlights Exporting Opportunities, September 29, 2010
"The U.S.-India Commercial Dialogue has provided greater collaboration as a means to increase trade and investment ties between our two countries."
- U.S. Government delegation visits New Delhi to hold meetings on Food Security and U.S.-Indian Agricultural Cooperation, September 14, 2010
The committee, comprised of officials from relevant U.S. government and Indian agencies and ministries, met to identify areas of cooperation for Working Groups on Strategic Cooperation in Agriculture and Food Security; Food Processing, Farm-to-market Linkages and Agricultural Extension; and Crop and Weather Forecasting.
- A flourishing economic partnership
“Mirroring the overall bilateral relationship, US-India economic relations continue to flourish. Despite the global economic slowdown, India has moved up to become the 14th largest US trading partner. We hope to see India on our Top 10 list soon.”- Op-ed by Ambassador Timothy J. Roemer in The Economic Times, June 22, 2010.
- The inaugural U.S.-India Strategic Dialogue, Washington, D.C. June 1-4, 2010
- Ambassador Roemer's Opening Remarks at the Overseas Private Investment Corporation's Renewable Energy & Clean Technology Conference, May 6, 2010
"This partnership is the result of the U.S. - India Strategic Dialogue, which has broadened and deepened our bilateral relationship in several key areas, including energy and climate change cooperation. On clean energy, our range of engagement with India is wide and far-reaching, covering financing, investment, trade, research, and exchanges."
- Ambassador Roemer and President and CEO of the U.S. Chamber of Commerce Tom Donohue met in New Delhi to discuss economic and commercial issues, April 13, 2010.
"By looking to new markets abroad, American businesses remain at the point of the spear in strengthening U.S. international relations," Donohue said April 8, 2010. "In no country is this more evident than in India, but our work is just beginning. India is a vital market for American companies and increasing bilateral trade and investment ties is necessary to driving job creation and innovation in both countries."
- Statement by Secretary Geithner at launch of U.S.-India economic and financial partnership, April 6, 2010
"We meet at a time of encouraging prospects for the U.S. and Indian economies, and the beginnings of global economic recovery."
- Assistant Secretary Blake on Agriculture and Trade
'U.S. India trade has more than doubled in last 5 years'
In a speech at the Chicago Council on Global Affairs Februay 18, 2010, U.S. Assistant Secretary for South and Central Asian Affairs Robert O. Blake said, "The Prime Minister and President acknowledged that our relationship should have a greater focus on working together to improve agriculture. Agriculture and related activities contribute about 20 percent of India's GDP, but 70 percent of the country lives in the countryside; and about 50 percent of the population have farm-related jobs." He added, "Our total trade has more than doubled just in the last 5 years. The better news for American companies is that while U.S. imports from India doubled between 2003 and 2008, U.S. exports to India grew by a factor of three and a half over the same time period."
- Commercial Nuclear Suppliers visit India, December 11, 2009
Delegates of the fifth U.S. Commercial Nuclear Mission to India, representing 30 of the leading commercial nuclear suppliers from the United States and showcasing some of the world's leading technologies, concluded a week-long visit to India December 11, 2009. During the visit, the delegation, led by Westinghouse Electric's Vice President Meena Mutyala and GE-Hitachi Nuclear Energy's Senior Vice President Daniel Roderick, met with government officials and business counterparts in Delhi and Mumbai.
- American food organizations say Namaste to India, December 2-4, 2009
High quality food and agricultural products from the United States are on display at the U.S. Pavilion of the "International Food & Drink Expo India 2009" in New Delhi, December 2-4, 2009. The cooperation between the United States and India in the fields of food and agriculture is one of the key elements of the U.S.-India strategic partnership which encompasses all fields of human endeavor. Together, the United States and India are focused on sustainable growth of the global economy for the 21st century to benefit their citizens and to create jobs in both countries.
- President Obama and PM Singh announce U.S. - India Cooperation in Economics, Trade, and Agriculture, November 24, 2009 (PDF - 85kb)
The United States, the world's largest economy, and India, one of the world's fastest growing economies, are committed to working together to stimulate a global economic revival, to strengthen global economic and financial institutions, to work toward a balanced and ambitious outcome in the Doha Round negotiations, and to promote global food security.
- Meeting of the United States - India CEO Forum, November 23, 2009 (PDF - 85kb)
The U.S.-India CEO Forum brought together leaders of the U.S. and Indian business communities - approximately ten from each side across various industry sectors - with senior government officials on November 23. Forum members conveyed their interest in working on recommendations on how the public and private sectors can work together to strengthen economic and commercial ties between the two countries, stimulate innovation, spur job creation, and promote sustainable inclusive growth.
- Launch of a new Agriculture Dialogue, November 24, 2009 (PDF - 85kb)
President Obama and Prime Minister Singh launched a new Agriculture Dialogue and agreed on a Memorandum of Understanding on Agricultural Cooperation and Food Security that will set a pathway to robust cooperation between the governments in crop forecasting, management and market information; regional and global food security through the L'Aquila Food Security Initiative; science, technology, and education; nutrition; and expanding private sector investment in agriculture. The United States and India expect cooperation under the agreement to expand access to knowledge to improve productivity, safety, and nutritional quality of food crops; to strengthen market institutions and foster growth of agribusiness investment and improve food security and access to adequate quantities and quality of food, particularly for women and young children.
- Renewed bilateral cooperation in the field of intellectual property, November 24, 2009 (PDF - 85kb)
A Memorandum of Understanding between the Department of Commerce's United States Patent and Trademark Office and Indian Ministry of Commerce and Industry will focus on human resource development, capacity building and public awareness programs in intellectual property protection and enforcement.
- United States trade representative Ron Kirk travels to New Delhi for trade policy forum, October 23, 2009
United States Trade Representative Ron Kirk traveled to New Delhi in advance of the sixth ministerial-level meeting of the United States-India Trade Policy Forum (TPF) on Monday, October 26.