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
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Obama Approves Plan for Illegal Children to Get Refugee Status

Wednesday, 01 Oct 2014 10:56 AM

President Barack Obama has approved a plan to give thousands of children from Central America the opportunity to get ref . . .

Sen. Johnson: Ground Troops a Must to Defeat ISIS

Wednesday, 01 Oct 2014 10:53 AM

At most, fighting the Islamic State (ISIS) with only airstrikes may halt the advance of the violent terror group, but wi . . .

Fundraising Figures, Ad Spending Lend Insight Into Senate Races

Wednesday, 01 Oct 2014 09:48 AM

While polls can provide a snapshot of where a race stands in the public's eye, quarterly fundraising figures also give i . . .

Most Commented

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