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Business News/ Politics / Policy/  Obama praises Narendra Modi for shaking India’s ‘bureaucratic inertia’
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Obama praises Narendra Modi for shaking India’s ‘bureaucratic inertia’

However, Obama said that this was a long-term project and one would have to see how successful Modi is in his efforts

Last month, in Myanmar, on the sidelines of the East Asia Summit, US President Barack Obama (right) in his brief interaction with Narendra Modi had told him that he is a “man of action”. Photo: PTIPremium
Last month, in Myanmar, on the sidelines of the East Asia Summit, US President Barack Obama (right) in his brief interaction with Narendra Modi had told him that he is a “man of action”. Photo: PTI

Washington: US President Barack Obama on Thursday praised Prime Minister Narendra Modi’s efforts to shake up the “bureaucratic inertia" in India, less than a month after he described the Indian leader as a “man of action".

However, Obama said that this was a long-term project and one would have to see how successful Modi is in his efforts. “Modi has impressed me so far with his willingness to shake up the bureaucratic inertia inside of India. But that is a long-term project and we’ll have to see how successful he is," Obama told a business roundtable, which was attended by top corporate leaders of the country.

The roundtable was organized to discuss the current economic condition of the US and across the globe. Last month, in Myanmar, on the sidelines of the East Asia Summit, Obama in his brief interaction with Modi had told him that he is a “man of action". On his return from the 10-day trip to the Asia Pacific region that took him to Beijing, Myanmar and Australia, Obama announced that he has accepted an invitation to be the chief guest at the annual Republic Day Parade in New Delhi on 26 January next year.

Meanwhile, treasury undersecretary Nathan Sheets on Thursday said that the Obama administration would focus significantly on India-US economic and financial partnership and support the reform efforts of the Indian government over the next two years.

Describing this as “a win-win" proposition, the official said, the partnership would also encourage greater opening of India’s economy to US firms and improving the climate for US investment in the country.

“Over the next two years, we plan to focus significant attention on the US-India economic and financial partnership—the US treasury’s main vehicle to engage on economic issues with India. Through this partnership, we will support India in its growth and reform efforts and encourage the greater opening of India’s economy to US firms," Sheets said.

“This is, again, a “win-win" proposition," he added. “We can create new growth and employment opportunities in the US by further opening this growing market for US exports, improving the climate for US investment in India, and levelling the playing field for US companies."

“For India, faster growth, deeper financial markets, and greater openness to trade and foreign investment promise to raise incomes, reduce poverty, and bring many more Indians into the global middle class," said Sheets. The top treasury official said the US has an important window of opportunity to deepen its economic engagement with India. “India and its people share with the US an entrepreneurial spirit, a commitment to a vibrant private sector, and a record of economic growth built largely on domestic demand."

He said one of the top priority of the Obama administration is engagement with the world economy’s emerging giants, notably China and India in Asia, as well as Mexico and Brazil in Latin America. “We are committed over the next two years to finding ways to continue to strengthen our bilateral relationship with China—such as by advancing negotiations on a high-standard bilateral investment treaty—and to work together in multilateral settings," he said. PTI

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Published: 04 Dec 2014, 08:49 AM IST
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