|
|
|
|
|
23rd Ramadan 1435 | Tuesday, Jul 22, 2014
Business

India's global rise, a rich opportunity for US businesses

Tuesday, 8 January 2013
Comments(0)
January 08:

With the India-US civil nuclear deal removing the biggest obstacle in their relationship, a US think tank has said their concerted cooperation could help India's global rise and provide a rich opportunity for US businesses.

"The 2008 US-India Civil Nuclear Agreement did away with the biggest obstacle in the relationship-India's murky status in the global non-proliferation regime," the Carnegie Endowment for International Peace said in a new report.

"The evolving US-Indian strategic partnership holds great potential for both countries," says the report "Opportunities Unbound: Sustaining the Transformation in US-Indian Relations" by Ashley J. Tellis, senior associate South Asia Programme.

"India's economic growth and its ties to the US can assist its global rise, which contributes to keeping the peace in Asia, provided New Delhi and Washington sustain concerted cooperation," he writes.

"And India's emerging markets promise to be the key instrument for enlarging India's power while remaining a rich opportunity for US businesses," writes Tellis suggesting several steps for both sides to make the partnership fruitful.

His recommendations for India include expanding the basis for collaboration by undertaking planned second-generation economic reforms and doing away with archaic protectionist policies and openly embracing economic reforms.

New Delhi should also encourage foreign direct investment (FDI) by opening "those sectors where FDI is currently not permitted and increase the caps on FDI in those areas where it is currently allowed".

To improve defence cooperation, "India ought to take advantage of the wealth of technologies available only to Washington's closest partners and establish greater operational ties with the US to boost its military effectiveness without forfeiting strategic autonomy," writes Tellis.

"As one of Iran's biggest trading partners, New Delhi should quietly urge Tehran to abandon its nuclear weapons programme in order to avert a conflict that threatens important Indian interests," he suggests.

At the top of Tellis' recommendations for the US is exploring a free-trade agreement with India.

"Washington should pursue such an accord on a specified deadline while negotiating various arrangements to lower bilateral trade barriers in the interim," he suggests.

Favouring sustained leadership attention, Tellis says: "Even if New Delhi does not reciprocate every US initiative and retains its traditionally independent foreign policy, the US should devote senior leadership attention and create effective bureaucratic arrangements to expand the relationship with India."

In seeking a deeper partnership on Afghanistan, "Washington should encourage the Indian government to increase its political and material contributions to the effort in Afghanistan," he says.

Tellis also advocates building up India's defence capabilities saying: "Adding to a strong foundation of military-to-military cooperation, Washington should make it easier for India to purchase advanced American defence technology and cement defence industrial cooperation."

----IANS

Latest News

At least six top al-Qaeda leaders killed ...

At least six top al-Qaeda leaders have been killed in fresh US drone strikes in the Datta Khel area of North Waziristan. The six al-Qaed ...

Pak''s NA committee rejects alc...

Pakistan''s National Assembly Standing Committee on Law, Justice and Human Rights has opposed JUI-F MNA Maulana Mohammad Shirani''s proposal ...

Elvis Presley’s Rolls-Royce set to go u...

: The Rolls-Royce Phantom V owned by ‘the King of Rock and Roll’ Elvis Presley will soon be out for auction and is expected to fetch mor ...

Related News

25 power plants running with coal stocks to last less than 4 days

One fourth of the 100 coal-based power plants monitored by Central Electricity Authority (CEA) are r ...

Tomato prices hit the roof, touches Rs. 80 per kg

There seems to be no relief for the common man of our country as the prices of basic commodities suc ...

World Bank chief to meet Arun Jaitley today

World Bank Group President Jim Yong Kim will on Tuesday meet Finance Minister Arun Jaitley and there ...

Post new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

Rs. 27900 (Per 10g)

Opinion Poll
Do you think the Rail Budget 2014-15 is people-friendly?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, AP, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com