Thaindian News

By Arun Kumar
Washington, June 4 (IANS) India’s demand to liberalise high technology exports to it has not found favour with the US.

A joint statement issued after the first ever India-US strategic dialogue said the two countries were “committed to approach the issue of export controls (in high technology) in the spirit of the strategic partnership between the two countries”, indicating little immediate progress on India’s request.

The high level delegations led by External Affairs Minister S.M. Krishna and Secretary of State Hillary Clinton said the two had “confirmed the shared objective of a strong 21st century partnership in high technology”.

Krishna and Clinton, it said, “underlined the importance of facilitating co-operation in strategic and high technology sectors such as through the seventh meeting of the High Technology Cooperation Group in Washington in March 2010 as a key instrument to achieve the full potential of the strategic partnership”.

The two leaders, “though encouraged by signs of global economic recovery, recognised that the recovery is fragile and requires sustained international support, including through concerted efforts by G-20 countries and continuing openness in trade policies and promoting innovation and growth”.

They called for a balanced and ambitious conclusion to the Doha Development Round, consistent with its mandate, the statement said adding, “As members of the G-20, they agreed to advance the G-20 understandings including with regard to energy security and resisting protectionism in all its forms.”

Krishna and Clinton noted that both governments have taken steps to strengthen their bilateral engagement and understanding in three broad areas - macro-economic policy, financial sector, and infrastructure financing - through the launch of a new Economic and Financial Partnership between India’s ministry of finance and the department of the treasury in April 2010.

“The partnership is intended to help both countries to promote strong, sustainable, and balanced growth, as well as share experiences on infrastructure financing and financial sector regulation,” the statement said.

They also took note of the accelerated work under the US-India Trade Policy Forum (TPF) led by the US Trade Representative and India’s Minister of Commerce and Industry Anand Sharma.

One key result was the signing of a Framework for Cooperation on Trade and Investment in March 2010 which, uniquely, is expected to contribute to realising the further potential in bilateral trade and investment, supporting job creation in both countries, it said.