India-US trade to increase to $500 billion a year



Coinciding with Prime Minister Narendra Modi’s visit to US, the two countries have decided to deepen security and economic ties and increase bilateral trade to $500 billion.

The dialogue will also help Indo-US to define their relationship and increase bilateral trade from $100 billion to $500 billion a year.

Co-chairing the first India-US Strategic and Commercial Dialogue, US Secretary of State John Kerry and External Affairs Minister Sushma Swaraj released a joint statement on combating terrorism, reinforcing commercial ties and securing access to US inward investment and technology.

Kerry said the US-India relation was a “bright spot on the global landscape and is one of the most vital bilateral relationships in the world”.

“President Obama and the US administration are committed to this friendship. And the President himself looks forward to meeting with PM Modi when he visits New York next week,” he said at a joint press conference with Swaraj after the meeting.

“We have concluded a significant MoU on energy security, climate change, and clean energy,” he said. We have also restored our commitment to maritime security, gobal law, and peaceful resolution of disputes in Asia-Pacific and Indian Ocean regions,” he said.

He added the two nations will implement steps to deepen their cooperation against global terrorism, which has claimed too many lives.

Swaraj said the joint statement repeats the India and the US reiterate their commitment against terror groups such as Lashkar-e-Taiba, Haqqani network and the D-Company.

“We repeat that the threat posed by al-Qaeda, Lashkar-e-Taiba, Jaish-e-Mohammad, D-Company (Dawood Ibrahim), Haqqani network and other regional groups undermines stability in South Asia. And we call Pakistan to bring to justice the perpetrators of 2008 Mumbai terrorist attack,” said Swaraj.


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