M A I N   N E W S

President Obama hardsells the US
Announces $10-bn landmark deals, says India could be America's biggest trading partner
Shiv Kumar
Tribune News Service

PM to receive Obama at Delhi airport

Setting aside protocol, Prime Minister Manmohan Singh is expected to personally receive President Barack Obama and First Lady Michelle when they land at the Delhi Airport on Sunday afternoon. The PM had also received Obama’s predecessor George Bush on Air Force One’s arrival in Delhi in March 2006. Singh had made an exception in the case of Saudi King Abdullah too when he came to India in 2006 by receiving him at the airport. The personal chemistry between Singh and Obama is said to be as good as the one that existed between the Indian PM and Bush.

Mumbai, November 6
Indian corporate houses unveiled Diwali fireworks for the beleaguered American worker after several deals signed to commemorate President Barack Obama's visit promised more than 50,000 jobs in that country.

Obama, who addressed Indian and American entrepreneurs at the Trident Hotel late this afternoon, said several landmark deals worth US $10 bn have been signed between Indian and American companies.

“Several landmark deals have been done shortly before my arrival here. Boeing is going to sell dozens of planes to India and GE is going to sell hundreds of electric engines. The deals are worth $10 billion and will create more than 50,000 jobs in the US,” Obama said.

“There is no reason why India cannot be our top trading partner. I’m absolutely sure that the relationship between India and the U.S. is going to be one of the defining partnerships of the 21st century,” President Obama said.

Among the biggest deals announced just before Obama's address to Indian and American businessmen included Reliance Power's purchase of 2,400 MW plants from GE Spicejet's deal to buy 33 737 aircraft from Boeing.

Obama went on to say that today's deals were just a bare exploration of trade ties between the two countries. Calling India, the market of the future, Obama promised that Washington would step up investments and called for removal of tariffs and other barriers.

"I am absolutely confident we will meet the challenge of bettering economic ties. We both cherish entrepreneural spirit. We both know that our nations need to invest in research and science and development. We must give our children the currency for a successful economy," Obama said.

Obama promised that the US, too, would reciprocate and address Indian concerns. "A relationship between India and US will be one of the most defining relationships of the 21st century," he added.

Obama went on to say that he met some really smart Indian entrepreneurs today. "They found entirely new business models in India -cell towers that run on solar and not diesel, new filtration systems, clean drinking water," Obama said.