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India could seek an FTA or an MFN status from the USA. Not illogical or over ambitious.
Massive deregulation would have to follow the rules governing trade between the two countries.
If Obama is slow incorporating trade deregulation between the two countries then possibly a Republican administration would more than likely take the necessary steps to change the fundamental trading relationship between them.
So called left cover 'liberals' posture around USA India relationship, whilst it is the Republicans who actually take serious measures to help India in such strategic matters.
HOWEVER:
Hilary Clinton promised India that she will become a great power....a dangerous proposition.
President Clinton finally came to India at the very end of his second term for essentially photo-ops, and delivered/Signed NOTHING important for India.
Bush II 2nd term?
Obama?
Butch Gay Modi who may have been elected with American help (Landslide 285 seats...and a False flag in South India during the elections), will however get a better reception than ManMohan Singh et al ........in terms of technology transfer, and Upping the trade volume between the two giants.
The real question is of degree.
As with Japan and China and so with the USA TRADE is the real indicator of relationships between nations.
Not flowery praise and rhetorical gestures.
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US and India need to turn on the trillion-dollar tap, says Mumbai thinktank
A billion here and a
billion there and pretty soon we are talking real money, a famous US
Senator (Everett Dirksen) is believed to have joked at a time (1950s) a
billion was big bucks even in the United States. A trillion is the
number thrown out in the 21st century. Only a few countries (15) have
trillion dollar economies (India's joined the ranks in 2007), and
certainly no company, not even Apple, had hit that landmark. The world's
largest trade relationship, between US and Canada, rolls over $650
billion annually, followed by US-China at around $600 billion.
But in an audacious projection, a report from the thinktank Gateway House released on the eve of Prime Minister Narendra Modi's visit to US
is forecasting a $1 trillion partnership between the two countries by
2030, a ten-fold increase from the $100 billion mark that has just been
reached. It's double the $500 billion target set by Vice-President Joe
Biden during his visit to India in July last year, and given the
business boondoggles that have blighted the ties so far, it might well
be a pie in the sky.
Not so, maintains Nish Acharya, a former
Obama administration official who authored the report for the Mumbai
thinktank that aims to bridge the gap between business and foreign
policy. Acknowledging that the short-term relations between the two
countries have never been aligned, Acharya paraphrases President Kennedy
to argue that the United States and India must strive to create a
trillion dollar economic relationship "not because it is easy, because
it is hard." It is also natural, Acharya said in an interview on Sunday,
because the two countries have complementary strengths, primarily the
systems thinking and deep knowledge of the US, and process innovation
and human capital of India.
And which areas will the
two countries generate a trillion dollar trade? Acharya's paper cites a
raft of examples and opportunities from healthcare and pharma industry
to transportation, education, agriculture, and tourism. All these are
well-known and well-worn areas that are flogged frequently at business
meetings organized by the likes of CII, FICCI, and USIBC, but Acharya
says for bilateral trade to ramp up to a trillion dollars, the US-India
relationship has to look like the ties Washington has with Mexico, South
Korea, and Israel — countries that are not part of the G-7 but have
deep seated economic ties with US and "a consistency in policy and
collaboration that the US and India should strive for."
That hardly looks to be on the cards despite the build-up to the first
Modi-Obama meeting later this month, which some critics are already
panning for being more about summitry than substance. "Few people are
talking about the big-picture $3 trillion (the amount US spends on
health care) opportunity," agrees Manjeet Kripalani, Gateway House's
executive director who reported extensively for US business magazines
from India during her years as a journalist.
In fact,
considering that an 8 per cent growth will push India's $2 trillion
economy to $10 trillion in 2030, the Gateway's projected bilateral trade
will constitute 10 per cent of India's economic activity. But the
report cites numerous specific opportunities in various sectors for both
sides that can realize the trillion target — from the "surge" that
India needs to address its infrastructure, energy and agriculture, to
America's own, and largely unrecognized, need to adopt lessons in
innovation and scaling from India.
But to ramp things up to a
trillion, says the Gateway report, the two sides need to get over mutual
doubts and distrust: Indian politicians, media, and managers must
acknowledge that Americans need to build their business when they come
to India, and not assume they are there to exploit and pillage India.
Indians should also acknowledge they don't know what they don't know
(the know-it-all obstinacy is a frequent gripe of Americans). On their
part, Americans must recognize that they have to walk lockstep with the
global economy, and Indians are not out to steal their job.
Consequently, Washington must maintain an open door policy and made
movement of people and services easier.
What India can do to ramp-up bilateral trade to $1 trillion
*Create a "surge" in areas like infrastructure, healthcare, energy, agriculture.
*Strive to create a "Silicon Swadesh" — a culture of homegrown innovation and entrepreneurship across cities.
*Take advantage of next generation technologies from America.
What America can do to ramp up bilateral trade
*Allow Indian companies to bring relevant business models to US,
especially in healthcare where Americans pay through their nose.
*Collaborate with India in next-gen and disruptive technologies such as 3-D printing, cloud computing, and synthetic biology.
* Help India further food security with collaboration in modern agricultural practices.
