US to hold talks with India on investment

The increased focus on bilateral treaties is part of America's priority to attract billions of dollars of new investment to create American jobs.

Describing India as an 8220;Asian tiger8221;,the Obama administration has said it will soon hold technical discussions with the country on a 8220;next generation8221; bilateral investment treaty,through which the US aims to attract billions of dollars of investment and create jobs.

The State Department and US Trade Representatives Office will lead negotiations on next-generation of bilateral investment treaties BITs that protect and encourage investment.

8220;I am pleased to announce we will soon resume technical level discussions on a new BIT with India,8221; Secretary of State Hillary Clinton told a large gathering at the Economic Club of New York here yesterday.

The increased focus on bilateral treaties is part of America8217;s priority to attract billions of dollars of new investment to create American jobs.

Clinton also touted the benefits that accrue to America when its companies make investments in 8220;Asian tigers8221; like India and China,countries that often draw flak from American citizens and politicians alike for 8220;stealing8221; American jobs.

8220;It8217;s not as though American companies go and invest in China or India or Brazil and there8217;s no benefit back home. There is. But the quality of the benefit,the amount of the benefit,and the durability of the benefit depend upon decisions we make here as to how we think about our competitive stance in this new challenging environment,8221; she said.

Clinton said America needs to recognise that its dependence on imported oil and its national debt pose not just economic challenges but foreign policy ones too,creating volatility in the short term and giving other nations 8220;leverage against us8221;.

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In the long term,they pose a generational challenge to America8217;s global leadership,she said.

8220;We are working to respond with new thinking and a renewed sense of common purpose to get our economy growing,modernise our infrastructure,bring down our debt8230; Washington has to end the culture of political brinkmanship,which,I can tell you,raises questions around the world about our leadership,8221; Clinton added.