NEW DELHI - The completion of the bilateral investment treaty by India and the US will lead to increased investment by American companies in infrastructure sectors, US Ambassador Timothy J. Roemer said here Thursday.
“We are negotiating a bilateral investment treaty. Once in place, this will encourage the entry of billions of dollars in foreign direct investment (FDI) in infrastructure,” Roemer said during his interaction with Confederation of Indian Industry (CII).
This was his first meeting with Indian business leaders under the aegis of CII. Instead of speaking from the dais, Roemer stepped down to the audience and walked across the room as he spoke about India-US relations in the economic sphere.
The envoy said that there had been “successful rounds in late spring-summer” on negotiating the bilateral investment treaty. He said that there was “great promise” that the treaty would be wrapped up after another round of talks in December.
“Many American companies are interested in coming here if certain things happen. One of the most important things is the treaty which will give safeguards in case of risk,” said Roemer, a former six-term Congressman from Indiana.
He admitted that that edifice of bilateral relations was built on the success of the India-US nuclear deal.
On cooperation in the civil nuclear industry, Roemer said there were “three to four issues” to be completed. “Then, there is a very simple fix on licensing and a declaration from India’s side on nuclear parks,” said Roemer.
Two American companies, General Electric and Westinghouse, will be allocated sites for constructing nuclear power plants with 10,000 mega watt capacity in Andhra Pradesh and Gujarat.
Another sector for economic collaboration is green energy. “As we go into the prime minister’s visit and discuss how we expand strategic ties, green energy is one of those areas,” he said, referring to the November state visit by Indian Prime Minister Manmohan Singh.
He also spoke about the ‘End Use Monitoring Agreement’ which was signed recently during Secretary of State Hillary Clinton’s visit. “This will lead to a hike of $15 billion to $18 billion in defence deals,” he said.
Terming Lashkar-e-Taiba as a “regional enemy of both countries”, he said that India and the US had “common interests” in the fight against terrorism.
Roemer said US President Barack Obama was “very excited and very devoted” to relations with India. “He spends a lot of time on this,” he stated.
Related News
US envoy hopeful of Indo-US bilateral investment treaty being endorsedOctober 9th, 2009 NEW DELHI - US Ambassador to India Timothy Roemer has said that he is hopeful that a bilateral investment treaty between US and India will be signed by end of the year. Addressing a seminar 'Strengthening US-India Economic and Commerce Ties' hosted by Confederation of Indian Industry (CII) here on Thursday, Roemer said, "The signing of bilateral investment treaty would encourage the entry of billions of dollars in foreign direct investment in infrastructure sector.
Nuclear Test Ban Treaty must be implemented, stresses UN chiefSeptember 24th, 2009 NEW YORK - UN General Secretary Ban Ki-moon demanded Thursday that the Comprehensive Nuclear Test Ban Treaty (CTBT) be implemented as quickly as possible. At the opening of a two-day conference of around 100 foreign ministers in New York, Ban called for all of the nine states which had not yet ratified the treaty to begin negotiations immediately.
Obama names Sec'y of State Clinton to lead US delegation to nuclear weapons conference in NYSeptember 15th, 2009 Clinton to lead weapons conference delegatesWASHINGTON — Secretary of State Hillary Rodham Clinton will lead a delegation and deliver the U.S. statement at a conference on the Comprehensive Nuclear Test Ban Treaty to be held Sept.
India, Bangladesh inching closer to sealing extradition treatySeptember 10th, 2009 NEW DELHI - Visiting Bangladesh Foreign Minister Dipu Moni today said India and Bangladesh are close to finalizing an extradition treaty. Talking to reporters at Bangladesh House in Delhi, Moni said that the extradition treaty is under discussion.
India, Nepal inks new trade treatyAugust 22nd, 2009 NEW DELHI - India and Nepal on Saturday included a new trade treaty and agreement to control unauthorized trade, particularly from a third country. The treaty is aimed at widening the bilateral economic engagements.
India-Nepal bilateral trade to touch US three billion dollarsAugust 20th, 2009 NEW DELHI - Commerce and Industry Minister Anand Sharma has stressed on the need for increasing bilateral trade between India and Nepal to energize economic development in the region. He revealed this during his interaction with Rajendra Mahato, Nepal's Commerce Minister, here on Wednesday.
Nepal assures India on peace process, discusses new trade pact (Roundup)August 19th, 2009 NEW DELHI - India and Nepal Wednesday discussed the finalisation of a revised trade treaty as Kathmandu promised to push the peace process at home and made a pitch for more Indian investment. Prime Minister Manmohan Singh held talks with his Nepalese counterpart Madhav Kumar Nepal, who is in India on a five-day visit - his first to the country since assuming office nearly three months ago.
India, Nepal discuss revised bilateral trade treatyAugust 19th, 2009 NEW DELHI - With India-Nepal trade expected to touch Rs.15,000 crore ($3 billion) this fiscal, commerce ministers of the two countries Wednesday discussed a proposed revised treaty to widen the scope of bilateral trade. Commerce Minister Anand Sharma and his Nepalese counterpart Rajendra Mahato met here to take forward the proposed Treaty of Trade and Agreement of Co-operation.
Nepal PM to arrive in New Delhi TuesdayAugust 17th, 2009 NEW DELHI - Nepal's Prime Minister Madhav Kumar Nepal will arrive here Tuesday for a five-day visit - his first trip to India after becoming premier. Nepal is expected to hold talks with Prime Minister Manmohan Singh.
India to continue efforts for extradition treaty with Pakistan: KrishnaJuly 30th, 2009 NEW DELHI - Foreign Minister S. M. Krishna on Thursday said that India would continue its determined efforts to conclude an extradition treaty with Pakistan, despite the latter's unwillingness.
US has no plans for special Kashmir envoyJuly 15th, 2009 WASHINGTON - The US Wednesday assured India that it has no plans to appoint a special envoy for Kashmir as it considers it to be a matter between New Delhi and Islamabad. "I can assure you that we are not going to appoint a special Kashmir envoy," Assistant Secretary for South Central Asian Affairs Robert O.
Pakistan not positive on extradition treaty proposal: IndiaJuly 8th, 2009 NEW DELHI - India Wednesday said Pakistan has not responded positively to India's proposal for an extradition treaty. "India has proposed an extradition treaty to Pakistan in the Home Secretary talks in the composite dialogue since 2004, External Affairs Minister S.M.
India, US to discuss bilateral investment treatyJune 16th, 2009 WASHINGTON - Ahead of a meeting with Commerce and Industry Minister Anand Sharma, the US has declared its commitment to enhancing dialogue with India on key trade policy issues, including a bilateral investment treaty. US Trade Representative Ron Kirk will discuss these issues with Sharma during a roundtable at the US-India Business Council's Synergies Summit here Wednesday.
No uranium sales unless India signs NPT: AustraliaMarch 20th, 2009 CHANDIGARH - Despite the Nuclear Suppliers Group (NSG) nod for the historic India-US nuclear deal, Australia, one of the world's largest producers of uranium, is unwilling to export it to India unless New Delhi signs the Nuclear Non-Proliferation Treaty (NPT), the country's envoy says. 'The NSG decision cannot affect our policies and decisions.
Denmark eyes greater economic cooperation with IndiaJanuary 6th, 2009 KOLKATA - There will be around 15 percent rise in bilateral trade between India and Denmark in 2008-09, the Danish envoy said here Wednesday. 'We expect the bilateral economic activity between India and Denmark to rise up to 15 percent in 2008-09 compared to the corresponding period last year,' Ambassador of Denmark Ole Lonsmann Poulsen told reporters on the sidelines of a seminar organised by the Indian Chamber of Commerce (ICC) here.
Loading ...