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File photo of Indian Ambassador to the U.S. Meera Shankar - PTI.
“This year, again we have seen trade increase by 20 % in terms of figures in Q1”
Describing India-U.S. trade ties as “unique,” outgoing Indian ambassador Meera Shankar has said it is broadly balanced to the benefit of the two sides and sought the focus on infrastructure debt funds in India where American insurance firms are expected to find new opportunities for investment.
“The relationship is growing, so that it will itself propel momentum for stronger economic ties. But more than that, the Indian economy is growing. If we are able to sustain robust growth in India then demand in India will also increase for goods, services, and tie-ups, and Indian companies will become more global in their reach,” Ms. Shankar told PTI.
TENURE ENDS
Ms. Shankar, whose tenure officially came to an end on Sunday, was the Minister of Economy at the embassy here when New Delhi liberalised the nation's economy in the early 1990s.
“The India-U.S. trade and economic relationship is unique because it is a relationship where both sides are benefiting; it is broadly balanced in both directions and it is growing in both directions. This year, again we have seen trade increase by 20 per cent in terms of figures of the trade in the first quarter of the year,” she said.
One area where India clearly wants the U.S. to focus is infrastructure, Ms. Shankar said. “Recent policy changes which are being made in India with regard to permitting the setting up of the infrastructure debt fund would propel new interest by the U.S. Pension Fund and Insurance companies in investing in India.”
MORE ROBUST TRADE
“The India-U.S. trade and investment flows have become far more robust,” Ms. Shankar said.
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