On November 6, 2010, U.S. President Barack Obama began day one of his visit to India by announcing the government's support of $10 billion (USD) in export trade contracts to India. The announcement was made in Mumbai, India before a U.S.-India business summit that kick starts a 10-day visit across Asia.
President Obama was joined at the summit by First Lady Michelle Obama and representatives from U.S. companies such as Honeywell and AES Corp, the later among firms developing high-level trade deals in India under the federal export trade initiative.
Increased Trade Opportunities for U.S. Exporters to India
According to the U.S. Commercial Services, India is a market growing at an 75% annual rate for U.S. exports. The U.S. deliverables the federal government is expected to support include high tech industries such as aviation and energy, with aviation trade deals already in the pipeline. The Obama administration estimates that these U.S.-India export transactions will create about 54,000 jobs in the U.S.
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