Washington, June 2 (IANS) Assuring the US of India’s commitment to a nuclear liability regime, External Affairs Minister S.M. Krishna has invited American companies to invest in India and make a robust partnership with two-way trade in advanced technology products.
‘The government is committed to put in place a nuclear liability regime. We look forward to US companies investing in India,’ Krishna said.
In an address Wednesday at the 35th anniversary meeting of the US-India Business Council, he outlined his vision of an India-US relationship transformed by the landmark India-US civil nuclear deal.
Assuring the gathered business leaders representing some 300 top American firms investing in India that the implementation of the historic civil nuclear accord signed in 2008 was well within the agreed timelines, he said: ‘We would like it to be as robust a partnership as we have both envisioned.’
Krishna, a former chief minister of Karnataka, said having ‘personally expedited the IT revolution from Bangalore, I am absolutely confident that the emphasis, going forward, must be on the India-US partnership in high technology cooperation and innovation that will generate prosperity for both our peoples in the years to come.’
‘Indian importers have a 100 percent compliance record when it comes to safeguarding imported technology,’ he said, noting that India has given a number of written assurances that US technology will enjoy the level of security stipulated by the relevant American laws and not be diverted in contravention of the US regulations.
‘With this background and the trust that we have built as strategic partners, we should be able to create an environment for a robust two-way trade in advanced technology products,’ he said.
Krishna, who leads the first India-US strategic dialogue at the ministerial level Thursday with US Secretary of State Hillary Clinton, said encouraging innovation and entrepreneurship by engaging the medium-sized companies in the US and India is another priority.
Noting that foreign direct investments now are a two-way traffic, with the US being one of the leaders in investments in India, Krishna said India looks to the US for its unmatched scientific output and the ability to convert this strength into wealth-generating innovations.
‘India-US partnerships are now looking at providing low cost, efficient healthcare services to remote areas through mobile clinics, tele-medicine etc,’ Krishna said suggesting both countries can work together in streamlining health based IT solutions such as digitising health records, joint research and collaboration in drug discovery, medical research and clinical trials.
(Arun Kumar can be contacted at arun.kumar@ians.in (mailto:arun.kumar@ians.in)
