OBAMA-COMMERCE 2LST

Locke said that it was critical that the India should not
go in for policies that could slowdown this level-playing
field.
On trade barriers, he said, India's import tariffs were
complex and various non-tariff barriers have grown.
Moreover, he added, India's rules which govern FDI were
"opaque".
India receives about 8 per cent of total foreign
investment from the US. Foreign direct investment (FDI) in
2009-10 was USD 25.8 billion, while Indo-US trade in 2009-10
stood at USD 36.5 billion.
Speaking on the occasion, India's Commerce and Industry
Minister Anand Sharma underlined the need for intense
engagement between the two countries to meet the challenges
facing the global economy.
Referring to the US President's visit, Sharma said,
"Obama has described the engagement (between India and US) as
a new partnership of the 21st century."
The business summit was attended by CEOs of major
companies of both the countries. PTI TEAM
EKA


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