Saturday, November 6, 2010
MUMBAI, India — President Barack Obama is announcing $10 billion in trade deals with India that are expected to help pay for 54,000 U.S. jobs.
He's also unveiling new export rules to make it easier for U.S. companies to do business with the nation of 1.2 billion people. Some of the changes, including relaxing controls on India's purchase of so-called "dual use" technologies that could be used for civilian or military purposes, have been top priorities for the business community.
Obama was to make the announcements Saturday in a speech to U.S. and Indian business executives on the first day of his 10-day, four-country Asia trip. In the wake of Democrats' midterm election losses, attributed partly to continued high unemployment in the U.S., the White House is working overtime to present Obama's trip as singularly focused on U.S. jobs and the domestic economy.
The commercial deals include the purchase of 33 737s from Boeing by India's SpiceJet Airlines; the Indian military's plans to buy aircraft engines from General Electric; and preliminary agreement between Boeing and the Indian Air Force on the purchase of 10 C17s.
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