India and the US today agreed to start identification of projects where partners from both the countries can collaborate in order to enhance trade and investment ties between the countries.
In an hour-long meeting, Commerce and Industry Minister Nirmala Sitharaman and US Secretary of Commerce Penny Pritzker reviewed the trade ties between the countries.
"Both sides agreed to initiate identification of real projects where partners from both the countries will collaborate," an official statement issued after the meeting said.
Pritzker informed that in the wake of the new government in India, there is a lot of excitement and optimism in America.
"Both the sides identified areas where immediate collaboration can be started, which include investment, cluster-related initiatives, investment summit and identification of projects," it said.
The US side gave a draft MoU on US-India Infrastructure Initiative proposal.
The proposal was termed "a very positive step" by the Indian Minister which will be taken forward.
Sitharaman apprised the visiting US Secretary of Commerce about the administrative simplifications and facilitation measures.
The Indian minister also informed her about the manufacturing initiatives like SEZ, national investment and manufacturing zones and other proposed industrial corridors.
"Sitharaman conveyed Pritzker about India's plan with regard to smart cities too," it added.
Meanwhile talking to reporters, Sitharaman said that both the sides are keen to move on lot of things before the visit of Prime Minister Narendra Modi to the US.
"...It was more than once expressed by both sides that they are looking for good deliverables. The impression I got from the Secretary was that this visit is something they were looking forward to. They are looking at various different things which can happen during this visit and the sense I got was that they are keen on building on relationship with India," Sitharaman added.
The bilateral trade between the countries stood at USD 61.49 billion in 2013-13.
