U.S. Deputy Secretary of State William Burns (right) shakes hands with opposition Bharatiya Janata Party senior leader L.K. Advani prior to a meeting in New Delhi from article by India-West)
In a time where the struggling U.S. economy makes it difficult to generate jobs, Indian companies have created 50,000 jobs in the country. Deputy Secretary of State William Burns says “Our economic relationship [with India] is very much a two-way street. Both of us are focused on attracting growth and investment to our shores. Indian-owned Tata factory in Ohio puts thousands of Americans to work, part of the over 50,000 jobs that Indian firms have created in the U.S. Opportunities for small, medium and large American businesses in India are staggering.”
Burns added that India is being projected as the world’s third largest economy by 2025. He also praised the recent Indian decisions with regard to the next phase of economic reforms. “Of course, for our companies to provide the technology and expertise to help India prosper, India’s government must create an environment that encourages growth,” he said.
Earlier Burns urged his Indian counterparts to address non-tariff barriers, favoritism for local companies, restrictions on foreign investment and intellectual property protection because progress and predictability will only shore up India’s economic foundations. Burns further discussed how India and the United States share clear strategic aim in goals when concerning Iran, and also acclaimed the modernization efforts of the Indian army and navy, calling it a “good investment” as India contributes to peacekeeping across the world and stability of Asia-Pacific.
