Dinesh Kamath's Editorial 'Modi-Trump Meet shows great promises' that was published in Newsband

Modi-Trump Meet shows great promises

All eyes are on Prime Minister Narendra Modi’s first meeting with President Donald Trump, The India-U.S. joint statement has exceeded expectations, with an emphasis on the need for Pakistan to stop attacks on India launched from its soil, and for China to forge its Belt and Road Initiative taking into account India’s concerns on territorial and sovereignty issues. There will be continuity in the India-U.S. strategic partnership goals, and a “growing strategic convergence” between the two countries and a shared vision on world affairs.

The joint statement indicates that many bilateral issues are yet to be resolved. There was no mention of the immigration process and H1B visa curbs, and Trump’s withdrawal from the Paris climate accord, which will leave India’s climate change financing handicapped. The two leaders have taken an unreserved common position on terrorism, and the joint statement released after the meeting has pledged enhanced India-US cooperation in the Indo-Pacific region. Moreover, unlike China, the US has supported India’s membership in the Nuclear Suppliers Group, other global nuclear supervisory bodies and permanent membership in the UN Security Council. US has been quiet on crackdown on American companies outsourcing to India.

In post Modi-Trump cordial meeting India should gravitate on India-USA defense co-operation to counter terrorism and Chinese threat. The defense co-operation will help in India's economic growth, strengthen defense and will put India in International power arena. India should not miss this opportunity. India did have a good start. We have to approach and develop better relations with developed countries.

India is unique in the sense that similar to EU & USA it has the largest consumer market clamouring for products to improve their standard & quality of life. This alone will enable India to become more than a middle income nation with productivity & employment opportunity. Once we reach that critical state economically Indian military & economic power will help the region & there will be a World with a stable vibrant India and a future United Asia.

Although the United States is one of the few countries with which India has a trade surplus and the growth of merchandise trade has slowed down markedly all over the world, an effort should be made to at least double two way trade to about $ 200 billion at a little over $ 300 billion of exports, India is far short of the earlier target of $ 900 billion. There is no better yardstick of the productivity and efficiency of an economy than its ability to export.