India and the US will announce some of the most "tangible" results of their partnership in November, when Prime Minister Manmohan Singh travels to Washington for an official visit.
Noting that President Barack Obama views the US-India relationship as "one of the most important partnerships for America's future", new US ambassador to India Timothy Roemer said "we plan to move from good work done and the goodwill earned between our countries over the past decade to build a truly global partnership addressing both our nations' top concerns...."
"Put another way, a new strategic partnership on the most critically important issues in the world to help advance our shared regional and global interests. As the US ambassador in India, I plan to vigorously support our broad strategic dialogue.... To bring the best of America forward in our engagement with India. We intend to announce some of the most tangible results of our partnership this November, when Prime Minister Singh travels to Washington for an official visit," he said.
Singh has invited President Obama to visit India too, Roemer said while addressing the media, a day after presenting his credentials to President Pratibha Patil.
He also recalled the agenda of the strategic dialogue announced at the end of Secretary of State Hillary Clinton's visit which included cooperation, energy and climate change, economics and trade and said these are "big, bold and broad series of undertakings".
While the US wants 'pre-stage' benefit, India is willing to give 'post-stage' protection on private investment.
In simpler terms, if an American company suffers some losses even at the feasibility stage of an investment proposal because of change in government policies, it would like to be compensated.
India received $1.8 billion foreign direct investment from the US in 2008-09, while it was $1 billion in the previous fiscal. The bilateral trade between the countries was $41.75 billion in 2007-08.
India is the 17th largest trading partner of the US.
Marantis said this rank should improve to the top 10 in the next decade.
He also said that the reason for his visit is also to re-energise talks on India-US Trade Policy Forum (TPF).
The US government wants to hold the meeting of TPF later this year to send a signal to the companies that the two governments are serious about giving traders the tools they need to expand their commercial opportunities.
TPF, which was launched in 2005, is a principal trade dialogue between the US and India. TPF has five focus groups- agriculture, investment, innovation and creativity, services and tariff and non-tariff barriers.
Marantis yesterday met Sharma and is believed to have discussed ways of resolving differences on the Doha Round.
