Asserting that there was a natural convergence between the United States and India, U.S. President Barack Obama on Monday said he and Prime Minister Narendra Modi were interested in smart regulation.
"PM (Modi) and I are interested in smart regulation. There is a natural convergence between the two countries. An incredible business talent exists in India," President Obama said while addressing the India-US CEO Forum meeting here.
"I am excited that not only is the U.S. investing in India but a lot of Indians are investing in the US. The good news is that our trade in the last few years has increased by 60 percent," he added.
President Obama said more trade and investment will benefit the people of both countries.
"We want to see more trade and investment. It will benefit people of India and US. The possibility of US bilateral investment treaty will serve both countries well. Indian Diaspora has created incredible companies and values all over the world," he pointed out.
Around 30 business leaders from the US, including Indira Nooyi of Pepsico and Ajay Banga, CEO Mastercard and 17 Indian CEOs are attending the meet.
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