President Barack Obama will touch down in India on Saturday for a four-day trip that promises to be simultaneously challenging and significant.
Following his arrival in Mumbai Nov. 6, he is expected to meet with Prime Minister Manmohan Singh and address a joint session of the Indian Parliament, reports Reuters. Among the varied topics Obama will reportedly discuss: lifting a 1998 ban on U.S. exports of dual-use technology, which can be used for both civilian and military purposes, to India.
The American President is the first US President to begin his maiden India visit at Gateway of India in Mumbai rather than India Gate in Delhi. And the great financial capital responded with a loud bang, in its best possible tradition. The stock market in Mumbai reached its highest closing levels, ever!
Obama's landing into Mumbai is of great significance. It is an acknowledgment of India's growing economic prowess, which is increasingly powered by the private sector. In the past 10 years, India's economic growth is dominated by private consumer spending and private investment into new factories, new power plants, airports, steel and cement units, real estate. Of course the government's infrastructure push has helped but it is dwarfed by the animal spirits exemplified by Mumbai's entrepreneurs.
Following his arrival in Mumbai Nov. 6, he is expected to meet with Prime Minister Manmohan Singh and address a joint session of the Indian Parliament, reports Reuters. Among the varied topics Obama will reportedly discuss: lifting a 1998 ban on U.S. exports of dual-use technology, which can be used for both civilian and military purposes, to India.
The American President is the first US President to begin his maiden India visit at Gateway of India in Mumbai rather than India Gate in Delhi. And the great financial capital responded with a loud bang, in its best possible tradition. The stock market in Mumbai reached its highest closing levels, ever!Obama's landing into Mumbai is of great significance. It is an acknowledgment of India's growing economic prowess, which is increasingly powered by the private sector. In the past 10 years, India's economic growth is dominated by private consumer spending and private investment into new factories, new power plants, airports, steel and cement units, real estate. Of course the government's infrastructure push has helped but it is dwarfed by the animal spirits exemplified by Mumbai's entrepreneurs.
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