India-US trade relationship broadly balanced

Washington: Describing Indo-US trade ties as "unique", outgoing Indian Ambassador Meera Shankar has said it is broadly balanced to the benefit of the two sides and sought the focus on infrastructure debt funds in India where American insurance firms are expected to find new opportunities for investment.

"The relationship is growing, so that itself will propel momentum for stronger economic ties. But more than that the Indian economy is growing. If we are able to sustain robust growth in India then demand in India will also increase, for goods services, tie ups, Indian companies will become more global in their reach," Shankar told PTI.

Shankar, whose tenure as the Indian Ambassador to the US is officially coming to an end today, was the Minister Economy at the Indian embassy here when New Delhi liberalised economy in early 1990s.

"The India-US trade and economic relationship is unique because it is a relationship where both sides are benefiting, it is broadly balanced in both direction and it is growing in both directions. This year, again we have seen trade increase by 20 per cent in terms of figures of the trade in the first quarter of the year," she said.

One area where India clearly wants the US to focus is infrastructure, Shankar said. "Recent policy changes which are being made in India with regard to permitting the setting up of the infrastructure debt fund would propel new interest by the US Pension Fund and Insurance companies in investing in India.