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Modi, Obama target $500 billion India-US trade

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posted on Oct, 1 2014 @ 07:01 AM
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timesofindia.indiatimes.com...

Targeting a five-fold jump in Indo-US trade to $500 billion, Prime Minister Narendra Modi and US President Barack Obama on Wednesday pledged to deepen economic cooperation and will set up a joint program to boost business investment.

The two leaders, who met for the first time, agreed on boosting two-way trade to $500 billion from $100 billion. However, no deadline was set for reaching that goal.

In order to raise investment by institutional investors and corporate entities, the leaders decided to establish an Indo-US Investment Initiative led by India's Ministry of Finance and US Department of Treasury, with special focus on capital market development and financing of infrastructure.

They also agreed to establish an Infrastructure Collaboration Platform convened by the Ministry of Finance and the Department of Commerce to enhance participation of US companies in infrastructure projects in India.

"In this context, the US government welcomes India's offer for US industry to be the lead partner in developing smart cities in Ajmer (Rajasthan), Vishakhapatnam (Andhra Pradesh) and Allahabad (Uttar Pradesh)," it said.

They also welcomed the expansion of partnership to oversight of financial institutions, including between Reserve Bank of India and the US Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System and the Office of the Comptroller of Currency.


On some other news i heard the $500 Billion was actually going to be invested in India . Either way this will be a positive step for both countries after relations fell rock bottom after the incident with the diplomat ... If it is an investment of $500 Billion , where is the money coming from ?




edit on 1-10-2014 by maddy21 because: (no reason given)




posted on Oct, 1 2014 @ 07:10 AM
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With the meetings with the treasury and other financial institutes could it be to set up how $$ might be converted to BRICS ?? I am not savy enough to understand what hurdles might be in the way but India is a major partner of BRICS and may end up being the talking head for the group ,seeing the west just wants Putin to go away . a reply to: maddy21



posted on Oct, 1 2014 @ 07:10 AM
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originally posted by: maddy21

On some other news i heard the $500 Billion was actually going to be invested in India . Either way this will be a positive step for both countries after relations fell rock bottom after the incident with the diplomat ... If it is an investment of $500 Billion , where is the money coming from ?


Positive for both counties how so?

Lets look at china.. Well its a polluted cesspool of crap.. All because we want cheaper sh*t we dont need..
Lets look at the US... How about dem der jobs.. right.. Everyone is on welfare because well.. ya.. no jobs...

Seems like an awesome step in the right direction..



posted on Oct, 1 2014 @ 07:13 AM
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originally posted by: maddy21
On some other news i heard the $500 Billion was actually going to be invested in India . Either way this will be a positive step for both countries after relations fell rock bottom after the incident with the diplomat ... If it is an investment of $500 Billion , where is the money coming from ?



I always thought the diplomatic flap was totally counter productive right when both economies could have used better relations at the time.

Where's the money coming from? The Private sector mainly. If there is a profit to be made you can rest assured the funding will be available.



posted on Oct, 1 2014 @ 08:07 AM
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originally posted by: the2ofusr1
With the meetings with the treasury and other financial institutes could it be to set up how $$ might be converted to BRICS ?? I am not savy enough to understand what hurdles might be in the way but India is a major partner of BRICS and may end up being the talking head for the group ,seeing the west just wants Putin to go away . a reply to: maddy21



BRICS so far has agreed to create a bank to lend money. That is what it has accomplished in five years. That is the only agreement India has with it. So BRICS is a complete non factor. IBSA (India, Brazil, South Africa) has produced far more trade agreements for India but, again nothing that would stop trade with anybody else.

The US has also surpassed Russia as India largets arms dealer. India flush with Western cash would change the face of that part of the world.



posted on Oct, 1 2014 @ 09:19 AM
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I am sure you are correct and just want to add that there is a Big pipeline project going to China that is probably going to or could be used to help build the infrastructure in the northern part . Seeing that Russia does have a weapons program and lots of gas cumming down the pipes ,it wouldn't be too far fetched to think that Russia may end up with some of their Military needs .Win-win of sorts . a reply to: MrSpad



posted on Oct, 8 2014 @ 05:04 AM
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originally posted by: MrSpad

originally posted by: the2ofusr1
With the meetings with the treasury and other financial institutes could it be to set up how $$ might be converted to BRICS ?? I am not savy enough to understand what hurdles might be in the way but India is a major partner of BRICS and may end up being the talking head for the group ,seeing the west just wants Putin to go away . a reply to: maddy21



BRICS so far has agreed to create a bank to lend money. That is what it has accomplished in five years. That is the only agreement India has with it. So BRICS is a complete non factor. IBSA (India, Brazil, South Africa) has produced far more trade agreements for India but, again nothing that would stop trade with anybody else.

The US has also surpassed Russia as India largets arms dealer. India flush with Western cash would change the face of that part of the world.

I was wondering when you would make mentions on matters of BRICS.

. That is the only agreement India has with it. So BRICS is a complete non factor.
Your quite very wrong on the issue again as usual.



India flush with Western cash would change the face of that part of the world.

I am still waiting to see how effected western printed money has actually made any difference elsewhere let alone India.

Oh and the Euporean Union is a none factor.
edit on 8-10-2014 by Agent_USA_Supporter because: (no reason given)



posted on Oct, 8 2014 @ 05:06 AM
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a reply to: maddy21




where is the money coming from ?


Usual the printed money, but lets see if this holds any waters, remember the aid the American gov has promised to some countries? how affected has this being again? i cant quite recall.




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