Indo-US trade on track

24 Sep 2010 , 09:37 AM

Lawrence Summers, President Obama’s chief economic adviser, quit his post on on Thursday adding to a string of departures from Obama’s administration. More are in the pipeline with chief of staff Rahm Emmanuel expected to announce his resignation any day now. But it will be business as usual as far as India is concerned. Summers’s replacement is unlikely to change widely held perceptions in the US economy and business circles.

Trade figures of US investments in China and India say India-US trade is worth only $39 billion compared to $433 billion between China and US. “We are working on changing the perception and breaking through this wall in the way of investments and business opportunities for India,” Confederation of Indian Industry president Hari Bhartia said. As a part of that effort a new initiative to encourage investments from small and medium entrepreneurs was launched.

Hindustan Times sourced by HT Media Ltd