In light of US President Trump's recent visit to India, an economic expert suggests some measures the two countries could take to drive their bilateral relationship to the next level.
President Trump's reiteration of PM Modi's policies reinforced the Indian Government's assertion of successful outreach of its schemes.
If a free trade agreement might not be an immediate possibility, a multi-layered trade agreement would help boost import-linked value-added manufacturing and exports from India.
The US must consider that a more generous visa regime makes US businesses more competitive and its economy more sustainable by addressing the skills deficit effectively and enabling a cost arbitrage.
Several analysts feel that President Donald Trump's first official visit to India was high on optics and symbolism. Whatever be the case, it surely strengthened the hands of the two powerful leaders of the world's largest and most vibrant democracies. The imagery associated with the visit surely created a certain euphoria amongst American Indians which may marginally help Trump in the US Presidential elections later this year. Trump's reiteration of Prime Minister Narendra Modi's policies and the corresponding achievements also reinforced the Indian Government's assertion of successful outreach of its schemes. In that sense, it was essentially a mutually rewarding visit for both sides with 'win-win' outcomes.
The broad understanding between India and the US on the comprehensive global strategic partnership issues covering the maritime domain, space issues, military exchanges, defence-industry partnership, 5G networks, terrorism, drug trafficking, and infrastructure investments, is being welcomed. India's resolve to buy US military equipment worth $3 billion was surely a positive for the US even though the deal on nuclear reactors remained elusive. India is confronted with a tough act of balancing its need for modern defence equipment and ensuring technology transfer for manufacturing state-of-the-art weapons systems within the country. The defence manufacturing sector is arguably India's biggest aspiration under its 'Make in India' mission. While not much is available in the public domain with respect to the deliberations on this ambition, one hopes that India took cognisance of this opportunity during the bilateral talks which can create lots of jobs in India.