Railways: Minister advocates for strong Indo-US ties

Railway Minister Suresh Prabhu on Tuesday pitched for a strong Indo-US strategic economic ties saying it will be beneficial for both the countries and also help in promoting regional and global peace.

"If India and US have strong strategic economic partnership, it will immensely benefit both the countries. . . ," Prabhu said while addressing a seminar 'India-US 2015: Partnership for Peace and Prosperity' in New Delhi.

Highlighting the need for peace, he said, prosperity was not possible without peace.

"Prosperity is all that we aspire.

“I don't think it is possible without peace.

“It is a paradox but it is a reality.

“You cannot get big investment in any part of the world if there is no peace.

“You can make investment only when you have prosperity.

“You actually have a situation while we need to work on both at the same time,"

He said the growth potential of the economy gets affected without peace in the world.

"Therefore, we feel India and US must partner together, to find out how we can promote global peace, regional peace as well as peace in the respective countries."

Prabhu, further said, without peace it was difficult to focus on the issue of development. "It is not only peace in the back home but also peace on the region.

“If you have problems in the region then you have to divert your resources to meet the emergency," he said, adding peace was paramount for both the countries.

The railway minister stressed that establishing peace in the region was in the interest of both the countries, “because India and US could become victim of some of the threats that we face today in the world.

“It does not matter whether US is number one victim or India is number one."

Pitching for the US investment, Prabhu said when a country makes investment in another country, obviously investors want economic return.

He said sometimes, investments made by a country in another country poses a ‘strategic challenge. . . by virtue of acquired economic power and, technological advancements made because of investments made by that country."

Assuring that India would not pose a challenge to the US, he said "any investment (made in India), technologically financially or managerial, was not going to pose any challenge to the US.

“Therefore, it is just an investment which will give you huge dividend and not diminishing returns."

Image: Union Minister for Railways Suresh Prabhakar Prabhu with Minister of State for Railways Manoj Sinha; Photograph: Kind courtesy, PIB