India, US to take relationship to a new level: Shankar

WASHINGTON: Describing US as a natural economic partner of India, a top Indian envoy here has said that both the nations are committed to take bilateral relations to a new level.

Indian Ambassador to the US, Meera Shankar described the transformation that the Indo-US bilateral relationship had witnessed in recent years and highlighted the complementaries and convergences in the ties.

Shankar asked US companies to take advantage of the huge infrastructure development programme, which India proposes to undertake during the next few years.

She was speaking at a panel discussion on "US-India Relations: The Road Ahead" organised by the East-West Centre, a Washington-based think-tank, in association with the FICCI.

The US being the largest economy in the world is naturally a key economic partner for India, the Indian Ambassador said. She pointed out the growing two-way investment between both countries.

Shankar also emphasised the need for more engagement in various sectors including education, healthcare and high technology.

The FICCI president, Harsh Pati Singhania, and its secretary general, Amit Mitra, addressed the panel discussion during which she spoke about the developing economic ties between India and the US and numerous opportunities for further cooperation.

Earlier the Indian Ambassador released a study by FICCI: 'India Contributes to Employment, Capital Growth and Tax Revenues in the US - Direct Investment by Indian companies in 2007-2009'.

The study prepared by Ernst & Young analyses data for financial years, 2007-08 and 2008-09. Its finding is that Indian companies made 143 acquisitions across various sectors in the US; with the total value in excess of $5 billion.