India to create 54,000 US jobs with $15bn worth of trade deals
09 Nov 2010
Mumbai, India: With the US president, Barack Obama, jetting off onto the next leg of his Asian tour Indian and US companies and government officials will now settle down and discuss the modalities of implementing over $14.9 billion worth of deals signed or discussed in the course of the presidential visit. These deals have the potential to support up to 53,670 U.S. jobs, the White House has said.
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| The US President, Mr. Barack Obama and the First Lady Mrs. Michelle Obama waving as they board Air Force One after their tour of India,, at Palam Airport, in New Delhi on November 09, 2010. |
Of the total value the US will export an estimated $9.5 billion to India.
"I want to be able to say to the American people when they ask me, well, why are you spending time with India, aren't they taking our jobs?" Obama told reporters in New Delhi Monday. "I want to be able to say, actually, you know what, they just created 50,000 jobs. And that's why we shouldn't be resorting to protectionist measures. We shouldn't be thinking that it's just a one-way street."
Some of the new deals discussed or signed up for include:
- India allowing LaGrange, Illinois-based Electro-Motive Diesel and GE Transportation to bid on the country's purchase of over 1,000 diesel locomotives in the next 10 years. They will be the only two companies allowed to tender.
- The sale of 30 new 737 Boeing aircraft to private Indian carrier SpiceJet.
