Obama announces new trade deals with India worth billions (Video of Speech)
VIDEOMUMBAI, India – As President Barack Obama began a 10-day trip through Asia on Saturday, he has announced new trade deals with India to support tens of thousands of U.S. jobs.
Obama told a meeting of U.S. and Indian executives that the U.S. would relax some export regulations that have complicated trade between America and India.
"As we look to India today, the United States sees the opportunity to sell our exports in one of the fastest growing markets in the world. In America this is a jobs strategy," the president said in a speech to the U.S.-India Business Council.
The White House says the deals were already pending prior to Obama's visit to India. His visit they said will help finalize them.
Obama addressed the business leaders shortly after arriving in Mumbai, where his first stop was at the Taj Mahal hotel to commemorate the 2008 terror attacks that killed 166 people across the city. The president said he intended to send a signal by making Mumbai the first stop of the trip and by staying at the Taj, which was a target during the terror siege.
"The United States and India stand united," he said. "We'll never forget."
