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Obama Announces $4 Billion in Trade, Investment With India

© AFP 2021 / SAUL LOEBIndian Prime Minister Narendra Modi (L) and US President Barack Obama leave after speaking during the India-US Business Summit in New Delhi on January 26, 2015.
Indian Prime Minister Narendra Modi (L) and US President Barack Obama leave after speaking during the India-US Business Summit in New Delhi on January 26, 2015. - Sputnik International
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US President Barack Obama announced a series of US initiatives that would generate more than $4 billion in trade and investment with India.

India's Prime Minister Narendra Modi gestures as he gives a speech in front of students at the University of the Sacred Heart in Tokyo - Sputnik International
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NEW DELHI, January 26 (Sputnik) — US President Barack Obama announced $4 billion in trade and investment with India over the next two years at the India-US CEO Forum Monday.

“Today, I’m proud to announce additional steps — a series of US initiatives that will generate more than $4 billion in trade and investment with India and support thousands of jobs in both of our countries,” Obama said.

Specifically, the US Export-Import Bank will inject up to $1 billion in Indian Prime Minister Narendra Modi's “Made in America” program to increase exports to India.

U.S. President Barack Obama stands next to Indian Prime Minister Narendra Modi (R) waving as they leave after giving their opening statement at Hyderabad House in New Delhi January 25, 2015 - Sputnik International
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The US Overseas Private Investment Corporation will give more than $1 billion in loans to support small and medium sized businesses in India, especially in underserved rural and urban markets. The US Trade and Development Agency will invest nearly $2 billion in Indian renewable energy.

The US is ready to cooperate with India, developing transport infrastructure, the president added.

President Obama attended the summit during his three-day visit to India.

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