'India, US economic ties strongest ever'

Indo-US economic ties are stronger than ever, according to Susan Schwab, the US trade representative.

"The US-India economic partnership is the strongest it has ever been and trade has played a vital role in that development, "United States Trade Representative Susan C Schwab said at the first meeting of the US-India Trade Policy Forum's Private Sector Advisory Group in New York on Monday.

"Results have been achieved by the Trade Policy Forum's government-to-government dialogue," she said.

The Trade Policy Forum was set up during Prime Minister Manmohan Singh's visit to Washington in 2005

Commerce Minister Kamal Nath and Schwab, who co-chair the Forum, asked the PSAG to consider what "incremental steps" both the US and India needed to take to overcome obstacles to unfettered trade and investment. The Group needs to make recommendations keeping in view where the two nations want to be in two to five years, they said.

The group will hold its next meeting in India. Minister Nath said the PSAG provides an opportunity on an institutional basis to identify "areas of mutual interest impacting bilateral trade."

Nath later told reporters that the Group will consider areas of concern on both sides. Giving an example, he said one area of concern for New Delhi is that American banks have opened several branches in India but Indian banks have not been able to do so in America.