End protectionism to remove hurdles in Indo-US trade: Rajnath Singh

HYDERABAD: Union Home Minister Rajnath Singh has appealed to the United States to increase investments in irrigation, cyber and homeland security in India while shunning the protectionist approach.

"Indo-American business value could go up to $500 billion in the coming years if the country shuns its protectionist approach and explores investment opportunities in Goods and services, cooperation for rural development including irrigation and agriculture," said Singh, who was in the city to inaugurate a two-day Indo-American Chamber of Commerce National Conclave themed at increasing US-India trade to $500 billion.

The minister said that as India is marching ahead on the modernisation plans of its police and focussing on cyber and homeland security where the United States holds 75% market share, it would be a big investment opportunity for US investors.

Speaking on the US visa fee hike row, the minister said that US should adopt a rational approach.

India is looking to have a trade of around $500 billion by 2020 with the USA which currently stands at over $103 billion and is eyeing sectors like aerospace and defence, infrastructure and logistics, energy, services and manufacturing sectors while also signing of new trade agreements between both the countries.