US Pushes Capital Market Reform and Infrastructure Finance in Modi Visit

The PM Narendra Modi and the US President Barack Obama met on 30 Sept. The leaders pledged to establish an Indo-U.S. Investment Initiative led by the Ministry of Finance and the Department of Treasury, with special focus on capital market development and financing of infrastructure. They pledged to establish an Infrastructure Collaboration Platform convened by the Ministry of Finance and the Department of Commerce to enhance participation of U.S. companies in infrastructure projects in India.

US Industry Adopts Ajmer, Allahabad and Vizag

U.S. Government welcomes India’s offer for U.S. industry to be the lead partner in developing smart cities in Ajmer (Rajasthan), Vishakhapatnam (Andhra Pradesh) and Allahabad (Uttar Pradesh).The Prime Minister will welcome two trade missions in 2015 focused on meeting India’s infrastructure needs with U.S. technology and services.

USAID for Swachch (Clean) India

They also committed to a new partnership to advance the Prime Minister’s goal of improved access to clean water and sanitation for all. USAID, through the Urban India Water, Sanitation, and Hygiene (WASH) Alliance, will serve as knowledge partner to help leverage private and civil society innovation, expertise, and technology, such as with the Bill and Melinda Gates Foundation, to support the Prime Minister’s 500 Cities National Urban Development Mission and Clean India Campaign.

Local Technology

The President and Prime Minister underlined the important contribution that U.S. locomotive technology, equipment to monitor rail system assets, and U.S. best practices can play in modernizing India’s vast railway network, including accessing programs of U.S. Trade and Development Agency in this work.

US-India Ask Officials for More Talks to Clear “Impasse” at WTO – Sign of Modi Melting?

The leaders discussed their concerns about the current impasse in the World Trade Organization and its effect on the multilateral trading system, and directed their officials to consult urgently along with other WTO members on the next steps. The leaders committed to work through the Trade Policy Forum to promote a business environment attractive for companies to invest and manufacture in India and in the United States. Agreeing on the need to foster innovation in a manner that promotes economic growth and job creation, the leaders committed to establish an annual high-level Intellectual Property (IP) Working Group with appropriate decision-making and technical-level meetings as part of the Trade Policy Forum. They recognized in particular the contribution of the Indian and U.S. Information Technology (IT) industry and the IT-enabled service industry in strengthening India-U.S. trade and investment relations.

Advanced Manufacturing, Standards

The two leaders committed to hold public-private discussions in early 2015 under the Commercial Dialogue on new areas of cooperation, including innovation in advanced manufacturing. In order to share best practices in manufacturing and work toward greater harmonization of standards, the National Institute of Standards and Technology’s Manufacturing Extension Partnership program will start a dialogue with Indian counterparts. The two countries plan to work expeditiously through several joint initiatives to facilitate greater confidence in cross-border trade and investment.

Young Indians

The President also offered to support the Prime Minister to achieve his goal of preparing young Indians for 21st century jobs through new partnerships to share expertise and global standards for skills development in India, including by reinvigorating the Higher Education Dialogue.

US Power Plants to Generate Nuclear Energy, Nuclear Parks in the Offing

The two leaders reaffirmed their commitment to implement fully the U.S.-India civil nuclear cooperation agreement. They established a Contact Group on advancing the implementation of civil nuclear energy cooperation in order to realize early their shared goal of delivering electricity from U.S.-built nuclear power plants in India. They looked forward to advancing the dialogue to discuss all implementation issues, including but not limited to administrative issues, liability, technical issues, and licensing to facilitate the establishment of nuclear parks, including power plants with Westinghouse and GE-Hitachi technology.

Clean Energy – PACE and PEACE

Recognizing the critical importance of increasing energy access, reducing greenhouse gas emissions, and improving resilience in the face of climate change, President Obama and Prime Minister Modi agreed to a new and enhanced strategic partnership on energy security, clean energy, and climate change. They agreed to strengthen and expand the highly successful U.S.-India Partnership to Advance Clean Energy (PACE) through a series of priority initiatives, including a new Energy Smart Cities Partnership to promote efficient urban energy infrastructure; a new program to scale-up renewable energy integration into India’s power grid; cooperation to support India’s efforts to upgrade its alternative energy institutes and to develop new innovation centers; an expansion of the Promoting Energy Access through Clean Energy (PEACE) program to unlock additional private sector investment and accelerate the deployment of cost-effective, super-efficient appliances; and the formation of a new Clean Energy Finance Forum to promote investment and trade in clean energy projects.

IRDA $1bn Finance

The leaders welcomed the conclusion of a Memorandum of Understanding between the Export-Import Bank and the Indian Renewable Energy Development Agency, which would make up to $1 billion in financing available to bolster India’s efforts to transition to a low-carbon and climate-resilient energy economy, while boosting U.S. renewable energy exports to India.

The two leaders reiterated the importance of conserving India’s precious biodiversity and agreed to explore opportunities for collaboration on national parks and wildlife conservation.

India to Partner with Uncle Sam on National-Regional-Global Security

The two leaders reaffirmed that India and the United States would build an enduring partnership in which both sides treat each other at the same level as their closest partners, including defense technology transfers, trade, research, co-production, and co-development.

To facilitate deeper defense cooperation, they welcomed the decision to renew for ten more years the 2005 Framework for the U.S.-India Defense Relationship and directed their defense teams to develop plans for more ambitious programs and activities. The two leaders also agreed to reinvigorate the Political-Military Dialogue and expand its role to serve as a wider dialogue on export licensing, defense cooperation and strategic cooperation.

National Defence University: The President and Prime Minister welcomed cooperation in the area of military education and training, and endorsed plans for the United States to cooperate with India’s planned National Defence University. They also decided to expand military-to-military partnerships including expert exchanges, dialogues, and joint training and exercises. They also committed to enhancing exchanges of civilian and military intelligence and consultation.

Maritime Security: The leaders agreed to intensify cooperation in maritime security to ensure freedom of navigation and unimpeded movement of lawful shipping and commercial activity, in accordance with accepted principles of international law. To achieve this objective, the two sides considered enhancing technology partnerships for India’s Navy including assessing possible areas of technology cooperation. They also agreed to upgrade their existing bilateral exercise MALABAR.

Lets Dismantle Safe Havens Together, Pak Named for Nov 2008 Mumbai Attack

The leaders reaffirmed their deep concern over the continued threat posed by terrorism, most recently highlighted by the dangers presented by the ISIL, and underlined the need for continued comprehensive global efforts to combat and defeat terrorism. The leaders stressed the need for joint and concerted efforts, including the dismantling of safe havens for terrorist and criminal networks, to disrupt all financial and tactical support for networks such as Al Qaeda, Lashkar-e Taiba, Jaish-e-Mohammad, the D-Company, and the Haqqanis. They reiterated their call for Pakistan to bring the perpetrators of the November 2008 terrorist attack in Mumbai to justice.

US in India Internal Security: They pledged to enhance criminal law enforcement, security, and military information exchanges, and strengthen cooperation on extradition and mutual legal assistance. Through operational cooperation through their law enforcementagencies, they aimed to prevent the spread of counterfeit currency and inhibit the use of cyberspace by terrorists, criminals, and those who use the internet for unlawful purposes, and to facilitate investigation of criminal and terrorist activities. The leaders also committed to identify modalities to exchange terrorist watch lists. President Obama pledgedto help India counter the threat of improvised explosive devices with information and technology. The leaders committed to pursue provision of U.S.-made mine-resistant ambush-protected vehicles to India.

VoA for US Citizens, Global Entry Program for US Entry to Indians!

The President and Prime Minister looked forward to easing travel between their two countries, as India introduces visa-on-arrival for U.S. citizens in 2015 and works toward meeting the requirements to make the United States’ Global Entry Program available to Indian citizens.

GIAN for 1000 US Academics in India

The leaders committed to partner on the Digital India initiative, with the goal of enhancing digital infrastructure, deploying e-governance and e-services, promoting industry collaboration, and digitally empowering India’s citizens. The President welcomed India’s proposal to establish the Global Initiative of Academic Networks (GIAN, or Knowledge) under which India would invite and host upto 1,000 American academics each year to teach in centrally-recognized Indian Universities, at their convenience.

Mars Meetings and Collisions

The two leaders exchanged congratulations on the successful entry into orbit of their respective Mars missions, which occurred two days apart. They welcomed the establishment and planned first meeting of the NASA-ISRO Mars Joint Working Group under the U.S.-India Civil Space Joint Working Group. The leaders also look forward to the successful conclusion of a new agreement to support the NASA-ISRO Synthetic Aperture Radar (NISAR) mission, to be launched in 2021.

The United and India also intend to start a new dialogue on maintaining long-term security and sustainability of the outer space environment, including space situational awareness and collision avoidance in outer space.

Welcome to the Nuclear Clubs

As a critical step in strengthening global non-proliferation and export control regimes, the President and Prime Minister committed to continue work towards India’s phased entry into the Nuclear Suppliers Group (NSG), the Missile Technology Control Regime (MTCR), the Wassenaar Arrangement and the Australia Group. The President affirmed that India meets MTCR requirements and is ready for membership in the NSG. He supported India’s early application and eventual membership in all four regimes.

Trilateral with Japan

Noting India’s “Act East” policy and the United States’ rebalance to Asia, the leaders committed to work more closely with other Asia Pacific countries through consultations, dialogues, and joint exercises. They underlined the importance of their trilateral dialogue with Japan and decided to explore holding this dialogue among their Foreign Ministers.

Freedom of Navigation thru Sea and Air, South China Sea

The Prime Minister and the President reaffirmed their shared interest in preserving regional peace and stability, which are critical to the Asia Pacific region’s continued prosperity. The leaders expressed concern about rising tensions over maritime territorial disputes, and affirmed the importance of safeguarding maritime security and ensuring freedom of navigation and over flight throughout the region, especially in the South China Sea. The Prime Minister and President called on all parties to avoid the use, or threat of use, of force in advancing their claims. The two leaders urged the concerned parties to pursue resolution of their territorial and maritime disputes through all peaceful means, in accordance with universally recognized principles of international law, including the United Nations Convention on the Law of the Sea.

Global Policing Agenda for Indian Security Forces under US Guidance – Syria, Iraq, Afghanistan, Iran, Korea Highlighted

India and the United States pledged to consult closely on global crises, especially unfolding events in Syria and Iraq. The two leaders committed to exchange information about nationals returning from these conflict zones, and to seek cooperation in protecting and responding to the needs of civilians stranded in the middle of these conflicts.

Recognizing the importance of their respective strategic partnerships with Afghanistan, the leaders asserted the importance of a sustainable, inclusive, sovereign, and democratic political order in Afghanistan, and committed to continue close consultations and cooperation in support of Afghanistan’s future.

They stressed the need for diplomacy to resolve the serious concerns of the international community regarding Iran’s nuclear program, and called on Iran to comply with its UN Security Council-imposed obligations and to cooperate fully with the International Atomic Energy Agency.

The two leaders expressed concerns over the continued development by the Democratic People’s Republic of Korea (DPRK) of its nuclear weapons and ballistic missile programs, including its uranium enrichment activities. They urged DPRK to take concrete actions toward denuclearization and other goals, as well as to comply fully with all its international obligations, including all relevant UN Security Council resolutions, and to fulfill its commitments under the 2005 Joint Statement of the Six-Party Talks.

The President expressed appreciation for the contributions of Indian peacekeepers to global peace and stability for the past 60 years, and welcomed the partnership with India to train third country peacekeepers at India’s training center in New Delhi. The President reaffirmed his support for a reformed UN Security Council with India as a permanent member, and both leaders committed to ensuring that the Security Council continues to play an effective role in maintaining international peace and security as envisioned in the United Nations Charter.

The President also affirmed his commitment to enhancing India's voice and vote in international financial institutions, and ensuring that resources are made available and are used creatively through multilateral development banks for infrastructure financing.

The President thanked the Prime Minister for the gracious invitation to return to the great nation of India. In conclusion, the two leaders affirmed their long-term vision for a resilient and ambitious partnership through the first "Vision Statement for the Strategic Partnership,” which they will hold up as the guiding framework for their governments and people.