“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.
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.
