Asia Bizz: Obama in India – President’s Asian trip aims at striking trade deals to improve US domestic job sector
US President Barack Obama is on his first ever trip to India, and he has announced a $10 billion trade deal with India, as reports state that he wants to boost exports and trade with India and other Asian subcontinent countries. The President arrived in Mumbai on Saturday. Obama has brought the proposal of boosting trade with Asia, as this will create scores of job opportunities in the US and the Asian countries.
Obama said on Saturday, “As we look to India today, the United States sees an opportunity to sell our exports in one of the fastest growing markets in the world. For America this is a jobs strategy.”
As per the stats, that trade deal with India will be triggering a job pool for almost 54,000 people in the US, and cost the trade with the countries is worth $10 billion. On the other hand, the US citizens and officials will gain straight access to India to do better business. Unemployment in the US has been rotting the nation for the past few years now, and with almost millions unemployed, this trip will indeed be a boon for the country.
For India the main purpose of his visit was to relax the defense trade controls, which was hampering the country’s defense development for the past decade. On the other hand, India is also looking forward to build up strategic ties in purchasing defense equipments from the US, and indeed these trade deals with the US will be massive.
The US president is on a 10 day tour in Asia and aims at striking important trade deals to improvise the domestic job sector arena in USA.