India is a rising economic power: Joe Biden

US Vice President says Indian exports rose from $20 bn to $ 300 bn because India took bold steps in 1991

US Vice President Joe Biden today said India is a rising power, which has risen exponentially over the past two decaded primarily because of the bold steps it took in 1991.

 

"You took bold steps in 1991. Since then, the phone users grew to 900 million from 5 million. The exports rose to $300 billion from $20 billion. No contradiction between strategic autonomy and partnership. We have to take it to a new scale," Biden said.

He added that though the bilateral trade grew to $100 billion, it could rise five fold. The issues relating to the limit in FDI, inconsistent tax system, barriers to market access and conditions of local content could be negotiated. 

 

Stating that American companies are interested in technology and infrastructure, he said, "We in the US welcome investments by India. The US has benefited due  to Indian human capital."  

He also said that India's concern on food security needs to be addressed at the upcoming WTO meeting in December.

 

Emphasing the Indo-US relationships, he said, "We already have a co-operation in the nuclear sector. A power project of 6,000 MW can be set up in Gujarat with supply of nuclear reactors from US companies."
 

Biden went a step ahead and drew similarities between the US and Indian experiences of 9/11 and 26/11, respectively. He said that the US had been sharing intelligence with India on terror in order to avoid a 9/11 and 26/11-like situation in both the countries.

He also said that the US wanted India to be a permanent member in the United Nation Security Council.

 

On Taliban, Biden said that the political group should avoid violence and adhere to the constitution. The US Vice-President said he is of the view that India, China and the US should work together.