‘US geopolitical support to India needs more economic content’ | Current Affairs, Current Affairs 2017

‘US geopolitical support to India needs more economic content’

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New Delhi: America’s recent support to India in a move to maintain balance in geopolitics, should have more economic content to ensure a sustained and positive policy architecture in the Asia Pacific region, the Indo-American Chamber of Commerce (IACC) said on Monday.
“The recent unequivocal India outreach stand of the United States to maintain balance in the geo-politics should have more economic thrust and content to ensure sustained positive policy architecture in the Asia Pacific, the IACC said in a statement here. “The bonhomie demonstrated by President Trump by celebrating Diwali in the White House, followed up by the blunt statement of US Secretary of State Rex Tillerson that India is the strongest and most reliable ally in the Asia Pacific region to purge terrorism and disruptive forces from the region are pointers to a new and emerging partnership between India and the US,” it said.

“It is important to give a strong economic heft and gravitas to these developments to make it sustainable and enduring,” said IACC President VasantSubramanyan.
Subramanyan noted that four areas required the immediate attention of both countries. These are “infrastructure investment, manufacturing, technology and skill development, besides steps for augmenting bilateral trade”.
“Pitching for a more positive involvement of India initiated International North-South Trade Corridor (INSTC), which would connect India, Iran, and Russia and Central Asia, IACC felt that this ambitious project should be backed more specifically and strongly by the US both in terms of geo-political and economic considerations.”
“IACC suggests that the US can respond to the initiative of the Indian administration to import crude oil from the US first time after 40 years as a sequel to the clarion call by the Trump Administration to buy the US products globally,” the statement said.
The US has also become the top exporter of defence equipment to India, the statement added.

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