INDO-US TRADE TIES IN FOR METAMORPHIC TRANSFORMATION: CSIS

INDO-US TRADE TIES IN FOR METAMORPHIC TRANSFORMATION: CSIS

INDO-US TRADE TIES IN FOR METAMORPHIC TRANSFORMATION: CSIS

 

No.PR-155
December 11, 2014
New Delhi
 

INDO-US TRADE TIES IN FOR METAMORPHIC TRANSFORMATION: CSIS
 

Wadhwani Chair in US India Policy Studies Centre for Strategic and International Studies (CSIS), Mr. Richard M Rossow on Thursday made a prognosis that with Modi government in India and Obama Administration in USA continuing and intensifying their focus on enhanced trade relations between the two nations, their trade will transform to a sky level in a decade or so.
 

Addressing an interactive session on “US-India Economic Ties: The Next Ten Years” organized by PHD Chamber of Commerce and Industry here today, Mr. Rossow forecast that the shale gas discovery effected in the United States are likely to bring about metamorphic changes in the gas sector of the two largest democracies in the next five years with leading Indian oil companies in its private sector such as Reliance committing to invest in the shale gas blocks of USA.
 

“The relationship especially those trade and economics between India and America were not that a beat while UPA was in power in India but a reversal has begun to happen with Modi being at the helm of affairs in the last six month or so, already liberalizing India’s foreign direct investment regime by increasing the FDI’s  limits in insurance, defence and railways.  This will undoubtedly attract huge American investments in India as its policy makers an business community have already taken hints from the present regime that their investments would follow the return intended to achieve thus amounting to closer economic ties between the two countries”, said Mr. Rossow.
 

On a question raised by PHD Chamber’s Senior Vice President, Mr. Alok B Shriram on the issue of shale gas discovery in USA and its fall out on India, Mr. Rossow responded that the gas sector of the two countries would have to come closer on terminal-to-terminal based cooperation and that the Indian public sector oil & gas companies have yet to take a call on it.
 

In his opening remarks, Mr. Shriram hoped that with increasing political will for closer economic ties between India and America, the two largest democracies will take their economic and trade relations at a level that it deserves to be taken to by 2025.
 

The Chairman International Affairs Committee – Americas (North) of the Chamber Mr. Deepak Pahwa presided over the interactive session in which Director American Center Ms. Emily White also participated.
 

ENDS

Koteshwar Prasad Dobhal
Consultant (PR)