MEA talks of bright prospects of Indo-US economic cooperation

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Washington, Mar 26 (UNI) External Affairs Minister Pranab Mukherjee has said that the prospects of economic cooperation between India and the United States appear 'particularly bright' in what he called the multilayered links that exist between the two countries.

''I am confident that this economic synergy between India and the United States is bound to continue in the coming years and decades,'' he said in his speech, at the Carnegie Endowment for International Peace.

He spoke on ''Perspectives on India-US Relations'' at the Carnegie event where media was not allowed.

Emblematic of this new relationship, he pointed out, was the willingness of both countries to shed baggage of the last 30 years to launch a new era of cooperation in civil nuclear power to address India's burgeoning requirements.

''We intend to press ahead on all these issues and other initiatives, Mr Mukherjee said.

The Minister said, whether it is meeting the need for better infrastructure or addressing energy deficiency, improving telecommunications, or modernising the manufacturing sector, the opportunities for US business and industry in India are huge.

Highlighting the fact that India has become the fastest growing export destination for US products, having registered a growth-rate of 75 percent last year, Mr Mukherjee said ''the US is one of the largest direct investors in India, while US bound investment from India has grown dramatically in the recent years.'' There will nalways be a 'fundamental underlying predictability' in bilateral ties between the two countries because this relationship answers to the interests of the people of both countries, he added.

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