Tags: us | india | trade | ties | obama | Mukherjee

Analysis: U.S.-India Trade Talks Focus on Trade Barriers

Wednesday, 29 Jun 2011 11:11 PM

By Carolyn Leddy

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Although the U.S.-India economic relationship has grown significantly in recent years, economic barriers continue to prevent U.S. investment in several lucrative sectors.

U.S. Secretary of Treasury Timothy Geithner and Indian Finance Minister Pranab Mukherjee met in Washington this week to discuss trade and economic investment opportunities between the United States and India in the second meeting under the U.S.-India Economic and Financial Partnership. The Indian economy grew 8.5% in 2010 and American corporations are eager to expand their business reach to the Indian marketplace of nearly 1.2 billion people.

Geithner urged India to implement substantive economic reforms, particularly in the finance sector, to enable the United States and India to fully realize the “enormous potential” of the bilateral economic relationship. Mukherjee lauded the rapid growth of trade between Washington and New Delhi in recent years and acknowledged the need for the easing of trade barriers

Analysis

Despite the robust rhetoric welcoming expanded foreign investment, significant barriers remain to additional U.S. investment in several Indian sectors including banking, education, and legal services. India’s ruling Congress Party has been beset by a wave of corruption scandals that have weakened its ability to pass much needed economic reforms to lessen trade and investment barriers.

India desperately needs foreign investment to develop and expand a national infrastructure that is woefully inadequate to support its continued economic growth. New Delhi is likely to move incrementally toward further economic reforms with an eye toward easing restrictions that will allow foreign investment for infrastructure improvements.

Carolyn Leddy held senior positions with the U.S. Department of State and the National Security Council under the George W. Bush administration. She was a 2009-2010 Council on Foreign Relations-Hitachi Ltd. International Affairs Fellow in Japan and Visiting Fellow at the National Institute for Defense Studies in Tokyo.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Man Detained after Threats at LA Times Building

Saturday, 19 Apr 2014 22:03 PM

A man suspected of making threatening statements about a shooting and forcing the lockdown of the Los Angeles Times buil . . .

Body Found by Highway Is Missing Massachusetts Boy

Saturday, 19 Apr 2014 21:42 PM

The body of a small boy apparently cast off the side of a highway in Massachusetts has been confirmed as a missing 5-yea . . .

Scam Burns Miami-Dade Fire Department From Within

Saturday, 19 Apr 2014 21:33 PM

South Florida is no stranger to insurance fraud. But a recently exposed scam involving public workers is sure to leave t . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved