India and the United States have agreed to expand their economic ties based on India's continuing economic reforms and complementary strengths and resources of the two countries. Report : Satish K Singh In regard to double taxation, they would soon negotiate an arrangement in which collection or recovery of tax will generally be suspended on reciprocal basis during the pendency of talks on the agreement in this regard.
A joint statement issued at the end of the discussions between Prime Minister Atal Behari Vajpayee and President Bill Clinton said that the two leaders committed support for efforts that will make capital markets more efficient, transparent and accountable to attract billions of dollars in private investment that is needed for sustainable growth to lift lives of the rich and the poor alike.

The statement, which comes a day after the two countries signed three major power agreements involving an investment of seven billion dollars, recognised the importance of greater South Asian regional cooperation and trade in energy as also development and application of clear technologies that address the problem of urban and water pollution. Bureau Report