U.S. and India Ink Strategic Agreements Energy, Security, Nuclear, Jobs Stimulus

2009-11-24T07:38:00.000-08:00

By James Rickman, SVS

Coming on the heels of President Obama’s first official state visitor that being the Indian Prime Minister Manmohan Singh and his wife. Both were greeted warmly by the President and Michelle Obama. After a brief morning speech they plan to announce today the signing of a strategic agreement between the two countries that includes tighter cooperation that would boost economic opportunities. India has a GDP growth rate of about 6.5%, 2009. Its English speaking population of over one billion is a highly educated workforce with low wages making it very attractive to U.S. companies from IT high tech software like Microsoft, GE, and Intel to automobile manufacturers like GM, FORD, and Tata Motors.

Prime Minister Singh reported today that India will sign a set of agreements with the U.S. focused on energy security, clean energy and climate change for cooperation across the board for all economic and cultural issues. For example, many U.S. companies are jockeying for the potential expansion of $150 billion nuclear power plant market in India. As India’s economy continues to flourish it’s massive growing population of over 100 million workforce mid-class people in the next decade will demand more low cost energy resources.

Over the past 18 months, India's economy was by the global crisis and growth moderated to 6.7 percent in 2008 and was likely to grow 6.5 percent this year. But Delhi expects the growth rate to get back to 9.0 percent within three years, Singh told the U.S. Chamber of Commerce in a speech.

Today’s, announced signing of the new two-way trade agreement would make the U.S. the largest trading partner for India going from $50 billion 2008 to potential $150 billion by 2012.

President Obama touts increased job opportunities in the years ahead for Americans will be generated by the signing of this historic agreement. Further, the agreement includes provisions that would increase education, science and technology joint developments also benefiting Americans through opening up the emerging growth markets of India for innovative goods and services trade between the two largest democracies in the world.

About Author
Mr. Rickman is a respected analyst, innovative expert in business content and web development services with over 30-years experience, published worldwide. He is also the author of several books including Eight Billion People. Mr. Rickman holds advanced business and technical degrees from Boston University. For more information visit : http://www.sustainablevirtualbiz.com/ or call (503) 621-4953.

U.S. India Sign Agreement Jobs, Security, Energy

U.S. and India Ink Strategic Agreements Energy, Security, Nuclear, Jobs Stimulus