India Inc on Saturday greeted with loud applause U.S. President Barack Obama's assurance to reciprocate India's efforts to reduce trade barriers to strengthen partnership, saying it will be a “win-win” situation for both.
“This was a clear articulation of what the two nations can do with each other. A clear sign of laying down the fact that it can be a win-win for both nations and it does not clearly have to be one at the cost of other,” ICICI Bank CEO Chandra Kochhar said after Mr. Obama's address to the U.S.-India Business Council. Expressing confidence that he was absolutely sure that relationship between the two nations was going to be one of the defining partnerships of the 21st century, Mr. Obama asked India to reduce trade barriers, while committing to reciprocate.
There was a realisation in the U.S. that a growing India was not a threat to them (the U.S.) because they did not run a trade deficit with India (unlike with China), CII President Hari S. Bhartia said.
Other industry and banking leaders described the future of the Indo-U.S relationship as one of mutual benefit.
Reacting to the U.S. President's speech, Infosys Technologies CEO Kris Gopalkrishnan said that such measures would lead to growth and job creation in both countries.
