Indo-US biz gets boost during Obama visit
Mumbai: On his longest visit to any country,
US President Barack Obama today announced USD 10 billion worth
deals, including a USD 2 billion equipment sourcing plan of
Anil Ambani Group firm Reliance Power and SpiceJet`s pruchase
of 30 Boeing 737 aircraft.
"As we look to India today, the United States sees an
opportunity to sell our exports in one of the fastest growing
markets in the world. For America this is a jobs strategy,"
Obama said kick-starting his Saturday-to-Monday visit to
Addressing a business summit, he said US companies were
finalising 20-odd deals worth around USD 10 billion (nearly Rs
"Today`s deals will lead to more than 50,000 jobs in the
United States," he said.
These include the purchase of 30 737s from Boeing by low
cost airline SpiceJet for USD 2.7 billion and Anil Ambani
Group firm Reliance Power sourcing equipment for its 2,400
megawatt expansion of Samalkot power plant in Andhra Pradesh.
Also on radar are Indian military`s plans to buy aircraft
engines from General Electric and prelimary pact between
Boeing and the Indian Air Force for purchase of 10 C17s.
General Electric Co., whose equipment generates about
one-third of the world`s power, will supply gas and steam
turbines worth USD 750 million to the USD 10 billion Samalkot
Partnership with GE and other US companies would result
in more than USD 2 billion of American exports to India over
the next 12 months, R-Power said in a press statement.
GE Chief Executive Officer Jeffrey Immelt, who is part of
the powerful business delegation accompanying Obama, signed a
memorandum of understanding for the order with Ambani.
The project will be operational by 2012.
Obama has said he wants to double US exports to more than
USD 2 trillion in five years, targeting emerging nations
"The order of 30 aircraft, the second such order by
SpiceJet, will enhance it`s penetration in India`s low cost
market," said Bhulo Kansagra, Director and one of the
promoters of SpiceJet, at the US India Business Council meet.
Boeing India President Dinesh Keskar added that the deal,
announced today, was signed late last month after it got
During his visit, Obama is also to announce removal of
almost all of the remaining Indian defence and space
organizations from a list of entities maintained by the US
government to curb proliferation, and relax dual-use rules for
Indian firms that regulate technology with both civil and
Download the all new Zee News app for Android and iOS to stay up to date with latest headlines and news stories in Politics, Entertainment, Sports, Technology, Business and much more from India and around the world.
More from India
More from World
More from Sports
More from Entertaiment
- Karnataka, Madhya Pradesh bypoll results: As it happened on November 24
- Intolerance issue: When did ‘Incredible India’ become ‘Intolerant India’, Anupam Kher asks Aamir Khan
- Tirupati, Tirumala rains update: Temple remains open; pilgrims continue to pour in for darshan
- BJP's big poser to Aamir Khan: Is there any better neighbour for Muslims than a Hindu?
- Muslim leader Asaduddin Owaisi says Aamir Khan wrong in wanting to leave India