US welcomes economic reforms in India: Envoy

September 17th, 2012 - 11:34 pm ICT by IANS  

New Delhi, Sep 17 (IANS) US Ambassador to India Nancy Powell Monday said the recent economic reforms announced by the Indian government have been widely welcomed in the US and hoped for greater trade and investment between the two countries.

The economic reforms have been widely welcomed in the US, Powell said here.

“American companies are looking closely at the fine print. They are looking forward to doing commercial deals,” she said.

Bilateral trade between India and the US has gone up 40 percent in the last three years and is set to exceed $100 billion this year.

Last week, the Manmohan Singh government unleashed a spate of big-ticket economic reforms, including allowing foreign supermarkets to open shop in India with majority ownership and letting foreign airlines to invest in Indian carriers.

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