New Delhi, Nov 18 (UNI) Terming the India-US bilateral relations as very important and strategic, union Minister for Commerce and Industry Piyush Goyal said that there is no pause or hiatus in the bilateral relations and the partnership is enduring and growing.
Speaking at the IACC 22nd Indo-US Economic Summit organized by Indo-America Chamber of Commerce (IACC), Goyal also said that as negotiations with the US are underway for a bilateral trade agreement, India would look at securing its national interest and agree on a fair and balanced deal.
“I don’t see any reason to be very worried. I don’t believe there is any hiatus in the relationship. It continues to be very important, very strategic for both the country, the United States and India,” he said.
He also highlighted the 10-year defence agreement signed between both the countries and the recently announced contract to source LPG from the US.
Goyal said that a comprehensive partnership which India has with the US has many elements.
“A partnership which is as comprehensive as the Indo-US relationship has many elements and every element need not run at the same speed. Negotiations is a process and India as a nation has to secure its interest, has to secure the interest of our stakeholders, businesses and balance it with our sensitivities, with the farmers, with the fishermen, with the small industry. As and when we find the right balance, you can rest assured we will get outcomes.”
“But the friendship is very enduring and the partnership is ever growing. So, we need not be worried. We stand on very strong pillars of democracy, very strong pillars of diversity and a very strong pillar of a shared commitment to development.
“The story of India-US relationship can be described as that of two trusted partners working for the shared prosperity, not only of both countries but of the entire world.”
On the much-anticipated trade deal between the two countries, he assured the industry and participants of the India-US Economic Summit that both the countries are committed on expanding trade relations.
Emphasizing on the robustness of the bilateral ties with the US, the minister said, “Just like the rest of the world, the US also shares a strong bond with India. They see India as a trusted partner. We are both equally committed to working, to expand trade and commerce between the two countries and when the deal becomes fair, equitable, balanced, you will hear good news.”
Describing India as a major investment hub, he said the return on investments in the country is very high and several global players have benefitted from investing in the country over the years with multi-fold returns.
