President Obama Says Deals Could Lead To $10 Billion In Economic Impact, 50,000 U.S. Jobs

The Alliance for US India Business (AUSIB) said Tuesday it welcomes the announcement of various trade and defense agreements between U.S. and Indian companies worth $10 billion. The announcements were made during President Obama’s visit to Mumbai, India and would add more than 50,000 jobs to the U.S. economy.

Some of the agreements include the purchase of 10 C-17 Globemaster III military transport aircraft by the Indian Air Force from Boeing; sale of 30 B737-800 commercial aircraft to SpiceJet by Boeing; supply of six advanced class 9FA gas turbines by GE to Reliance Power Ltd.; plans to start a Harley-Davidson unit in India and various other deals by even small business spread across the U.S. in the field of telecommunications, infrastructure, health, fisheries, IT etc.

Sanjay Puri, Chairman AUSIB said, “The magnitude and diversity of the trade agreements between U.S. and Indian companies reflects the maturity of the bilateral trade relationship, and the enormous mutual benefits it provides. AUSIB has always encouraged diversification of trade and investments in varied sectors across India to capitalize upon the full potential of this important economic partnership.”

FMI: www.ausib.org