On paper at least India and the US already have many shared interests and common goals. But Obama and his New Delhi counterpart Prime Minister Manmohan Singh have few significant bilateral achievements on economic issues. And one promising partnership involving nuclear energy may not even get off the ground.
In 2005 President George W. Bush and Singh announced what is considered the most ambitious agreement yet between their countries. The US would remove restrictions on the export of civil nuclear technology to India and American companies would sell power equipment to India which hopes to increase its nuclear power generation more than tenfold.
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Analysts say the more concrete results may come from corporate not government meetings. The chief executives accompanying Obama will include Jeffrey R. Immelt of General Electric and Indra K. Nooyii the Indian-born head of PepsiCo . They will meet the likes of Ratan Tata chairman of the multinational conglomerate Tata Group and Mukesh Ambani head of India’s biggest company Reliance Industries .
Various events will also give executives from smaller companies a chance to mingle. “The most immediate benefit of the visit could be that another group of American industry executives become aware of the India opportunity” said one of the scheduled attendees Gunjan Bagla the managing director of Amritt Ventures which advises American companies coming to India.
Last updated: July 9th, 2024
