New Delhi, July 19 (ANI): India and United States on Tuesday welcomed the increase of 30 percent in bilateral trade in 2010 over the previous year and the balanced and positive growth in services trade.
In a joint statement issued after the conclusion of the second US-India Strategic Dialogue here, both counties also welcomed the increase in foreign direct investment flows in both directions.
According to the statement, the two governments plan to resume technical-level negotiations on a bilateral investment treaty (BIT) in August in Washington to enhance transparency and predictability for investors, and support economic growth and job creation in both countries.
They also intend to participate in the first Consular Dialogue on July 25 in Washington DC for a full discussion of visa and other consular matters.
According the statement, the U.S. Overseas Private Investment Corporation (OPIC), the U.S. Export-Import Bank, the U.S. Trade Development Agency (USTDA), and U.S. Agency for International Development, in coordination with multiple U.S. government agencies, are participating in the development of clean and renewable energy projects, energy-efficient buildings and Smart Grids in India.
Both nations also welcomed the progress in the USTDA supported bilateral Energy Cooperation Programme, announced in November 2010, which works with Indian and U.S. businesses on deployment of clean energy technology in India.
The bilateral Joint Clean Energy Research and Development Center is accepting applications for its 100 million dollars, five-year program that is stimulating new collaboration between the United States' and India's public and private sectors in solar energy, energy-efficient buildings, and advanced biofuels, the statement adds.
The statement further said that the India-U.S. agriculture dialogue was launched in September 2010 to intensify collaboration with India on food security, including joint work with third countries.
USTDA hosted a trade mission to the United States for business and government representatives from India in the cold storage field, the statement added. (ANI)
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