Indo-US partnership beneficial for global economic order:USIBC

The just concluded Indo-US strategic and commercial dialogue has sent a "strong signal" that a deep partnership between the two countries is beneficial for the entire global economic order, a top American industry advocacy group has said.
"It sends a strong signal that a deep US-India partnership is beneficial for the entire global economic order," US India Business Council (USIBC) president Mukesh Aghi said after the successful conclusion of the second India-US Strategic and Commercial Dialogue (S&CD).
"This round of the dialogue was particularly significant because it was an opportunity to reflect upon the improvement of commercial relations between our governments in the past two years and develop next steps as the countries solidify their bilateral ties," he said of the talks that took place in New Delhi.

Aghi said this round of talks also set the tone for the next administration -- that India is a valuable commercial and strategic partner for the United States.
Responding to a question on the just concluded signing of Logistics Exchange Memorandum of Agreement (LEMOA), Aghi said it signifies a further step in the bilateral cooperation.
"This agreement which comes after a decade of negotiations, allows for the exchange of logistics support and supplies that are generally required during combined military exercises, port calls and cooperative efforts in unforeseen exigencies like in an Humanitarian Assistance and Disaster Relief situation," he told PTI.

This agreement essentially facilitates the provision of services and support that either party may need when in an out-of-country situation, Aghi noted.

For instance, if an Indian naval vessel suffers a maintenance problem while visiting the US for an exercise. The repairs are done at an American port, while ensuring the billing is timely and accurate, he said.
"The agreement is not expected to serve as a mutual defense treaty, nor authorise US armed forces a presence on Indian soil nor commit India to participate in US-led military operations; on the contrary, India could stand to benefit if there is a need for seeking assistance for its military while in transit through US bases," Aghi said.

USIBC, he said, looks forward to engaging with both governments as commercial engagements deepen between the two economies.
"In particular, we look forward to the implementation of the a 'US-India State Spotlight Webinar Series' that aims to increase US-India cooperation at the sub-national level, and is a programme in which USIBC is the implementing private- sector partner," he said.
The continued focus on "ease of doing business" can lead to greater trade and investment opportunities and integrate businesses from India and the United States into global supply chains, Aghi said.
The top USIBC leader said that it is encouraging to see US-India cooperation deepen on critical health issues that impact the lives of citizens.