President Barack Obama hailed India on Saturday as a vital source of US growth and jobs as his administration announced relaxation of US export controls to spur trade between the two countries. “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,” Obama said in New Delhi, India as he kicked off a 10-day tour of Asia.
Obama said India was still seen by many as “a land of call centres and back offices that cost American jobs”, but he rejected that view, Business Standard reports.
“It is a dynamic, two-way relationship that has created jobs and growth and higher living standards in both our countries and that is the truth,” he told business leaders. In an address to a business summit, President said US companies were finalising deals worth around $10 billion. Today’s deals will lead to more than 50,000 jobs in the United States,” he said.
Deals include previously announced transactions involving General Electric for aircraft engines and gas turbines, and Boeing for 737 passenger planes. But details on a key $4.5 billion sale by Boeing of C-17 military transport planes were still being ironed out.