Barack Obama: Purpose of the US-India Business and Entrepreneurship summit

Barack Obama, The United states President, has announced certain significant points on Indian investment in the American markets and the American investments in Indian markets in his speech at the Hotel Trident in Mumbai. The president has said in his speech that India and the US both are very powerful countries and they have great potential in terms of economic and business markets. Moreover, he said that if India and the US work together, it will generate thousands of opportunity for both the Indians as well as the Americans.

The Taj Hotel in Mumbai

Mr. Obama emphasized more on settling the American markets in India by increasing the American exports to India. Barack Obama drove our attention to some interesting statistics. Indian import from the US is less than 10% of its total. The US export to India is less than 2% of its total. He pointed that business trading between India and the States is less than Netherlands which is a very small country compared to India and which has a population less than the city of Mumbai. Obama simply meant that it can be the greatest trading ever between India and the US.

The president also mentioned that increase in the American Exports to India will generate plenty of jobs for the Americans and Indians. He clearly said that no Indian or American company will be targeted blindly which could affect their business. Obama also put emphasis on the fields of education, agriculture, etc.

Reliance declared to set up a Power Plant project in South Carolina which is expected to generate thousands of new job openings for the Americans. Everyone has eyes on the real output of this US-India Business Summit 2010.