Union Finance Minister Shri Pranab Mukherjee said that India and United States of America (USA) have strong strategic partnership especially in the field of defence, space and nuclear science among others. The Finance Minister said that there is a large potential for further expanding this relationship mainly in the economic and financial sector. Shri Mukherjee was speaking when Mr Gary Locke, US Secretary of Commerce called on him in his office here today. The Finance Minister said that we need large investment in infrastructure sector projects in which US companies can play a major role through export of equipments and establishing joint venture companies. He appreciated the USA leadership for supporting India’s claim for permanent membership in UN Security Council. Shri Mukherjee said that institutional and regulatory framework helped both the countries in further strengthening their relationship in civil nuclear cooperation 

Mr Gary Locke, US Secretary of Commerce said that both the countries can mutually benefit from further expanding their trade and economic relationship. He mentioned about various steps taken by US administration to further strengthen their strategic partnership. He specifically mentioned about removal of ISRO and DRDO from its entities list. Mr Locke said that India and USA can further expand their relationship in agriculture, weather forecasting, multi combat aircraft and economic and financial sector among others. He said that US companies are interested doing business in India. Mr Locke was accompanied by a delegation of senior officials of US administration including US Ambassador in India. 

Strategic economic partnership enabling trade and investment expansion through regulatory easing and sectoral commercial collaboration. Discussion focused on strengthening bilateral economic and trade ties by mobilising foreign participation in infrastructure via equipment exports and joint ventures, expanding sectoral collaboration in agriculture, weather forecasting, defence aerospace and financial services, and leveraging institutional and regulatory measures-including civil nuclear cooperation and removal of certain entities from export control lists-to enable greater technology transfer, market access and commercial partnerships.