"Obama announces trade deals with India worth billions."

[Clio the Leo]

Obama announces trade deals with India worth billions
msnbc.com news services

MUMBAI, India — President Barack Obama announced a host of new trade deals with India supporting tens of thousands of U.S. jobs Saturday as he began a 10-day trip through Asia on a determinedly domestic note.

Intent on demonstrating his attention to the sluggish U.S. economy even while overseas, Obama also told a meeting of U.S. and Indian executives that the U.S. would relax some export regulations that have complicated trade between America and this fast-growing country of 1.2 billion people.

"As we look to India today, the United States sees the opportunity to sell our exports in one of the fastest growing markets in the world. In America this is a jobs strategy," the president said in a speech to the U.S.-India Business Council.

Obama said it should be a "win-win" relationship, but in a nod to U.S. sensibilities he also acknowledged concerns in the U.S. about outsourcing.

"There still exists a caricature of India as a land of call centers," the president said.

He said people in India also are concerned about the impact of U.S. goods coming into their country, but contended that growing trade could only benefit both sides in the long run. He said he sees huge untapped potential in the relationship, noting that India doesn't even rank among America's top 10 trading partners.

"There is no reason this nation can't be one of our top trading partners," the president said.

To that end he said the U.S. would put forward a package of reforms on export controls that resulted from past administrations' concerns about India's nuclear industry. The changes, which have been much sought-after in the business community, include relaxing controls on India's purchase of so-called "dual use" technologies that could be used for civilian or military purposes, and removing a few of the last remaining Indian companies on a so-called "entities list" of groups that face restrictions on doing business in the U.S.

http://www.msnbc.msn.com/id/40039589/ns/politics/

[kentuck]

1. What do we have that they want?

They already have our jobs that create those products they might want if they were made in America.

[denimgirly]

3. Agreed....Hmmm..must be something Military. :(

[Clio the Leo]

8. and commercial jets. nt

[Codeine]

26. What's wrong with that?

Building tanks and jets is honest work, and it's not as though India is an aggressive power bent on attacking neighbors. :shrug: Every industrial nation on Earth makes military equipment -- if India wants to buy our stuff instead of China's stuff that's A Good Thing.

[Clio the Leo]

5. The Boeing employees might disagree with you.

Deals include previously announced transactions involving General Electric for aircraft engines and gas turbines, and Boeing for 737 passenger planes.
http://finance.yahoo.com/news/Obama-rejects-view-of-India-rb-1118137544.html?x=0&.v=2

Boeing to hire new workers for Renton, WA 737 plant as it increases production
http://www.pnwlocalnews.com/south_king/ren/news/103093689.html

[golfguru]

15. sophisticated military hardware

in which we are the best in the world.
And India has the cash to pay for it, unlike
the $Billions we give Pakistan each year to buy
our military hardware, courtesy of US taxpayers.

[Exilednight]

62. And in the end, every emerging country that we supply military .........

hardware to ends up using them against us.

As usual, no one in government is looking at the long view.

[babylonsister]

57. Here:

Obama makes it all about business on first day in India


MUMBAI — The Obama administration on Saturday announced $9.5 billion in private sector export deals with India that it said would support an estimated 54,000 jobs in the United States as President Barack Obama began a three-day visit here intended to deepen U.S.-India trade ties.

The deals include a $4.1 billion "preliminary" agreement for India to buy 10 C-17 military transport aircraft from Boeing, the purchase of 30 Boeing 737 passenger planes by an Indian airline for $2.7 billion, the sale of 107 combat jet engines to India by General Electric, valued at $800 million, and the purchase of a new electricity generating GE gas turbine that is assembled in Greenville, S.C., a deal worth $722 million and responsible for supporting nearly 3,000 jobs.

Most of the deals had been in the works for months, but the White House made them public on Saturday, the first day of Obama's three-day visit to India, to underscore what the president said should be a growing economic relationship between the United States and India, whose economy is expected to grow by 8 percent each year for the next five years.

more...

http://www.mcclatchydc.com/2010/11/06/103318/obama-makes-it-all-about-business.html

[treestar]

58. Lack of knowledge about what we make

Oversimplified view.

[rug]

2. Sounds like this is simply a relaxation of limits on the sale of military technology to India.

That should go a long way to stabilizing southwest Asia.

[vaberella]

4. And stabilizing our own economy. n/t

[rug]

7. Not if it results in increased military expenditures in Afghanista and Pakistan.

Unless of course you believe an economy based on military expenditures is sound.

[vaberella]

10. Hardly...but I believe in job making and we've been doing that for years.

And there is nothing to suggest there wil be an increased military...well not by the Obama admin since they will be planning to withdraw troops out of Afghanistan this summer. If the story changes this summer...then I'll take your statements into consideration...until then it's noted. As for Pakistan---right now we're not really using military but drones. We'll see how far this will go and I have no clue how far it will go.

[Exilednight]

63. Reduced military personel does not equate to reduced military spending. We have to ............

replace all the equipment that has been lost in Iraq and Afghanistan.

Let's not forget that we may have less people in uniform carrying arms, but we also have many more mercenaries that we now support through our tax dollars. And many of these low end private contractors make more money than a four star general.

Just some food for thought.

[Vehl]

22. hmnn not really

The Indian military modernization is not aimed at Pakistan.

It is aimed at having at least a minimum credible defense against Chinese aggression and the ability to prevent Chinese naval adventures in the Indian Ocean. India pretty much stopped worrying about Pakistan-military after the year 2000 or so.

[rug]

23. The next war is over water.

http://www.nytimes.com/2010/07/21/world/asia/21kashmir.html

[Vehl]

31. well

Sure, the water issue is a concern. But I really do not think Pakistan will be willing to start a war over that issue.

Recently China made a statement that Pakistan is its "Israel" . This statement reinforces the strategic worldview of India (at least for the past 10 years) that if any future conflict with China breaks out (god forbid!) India would have to face a two front war, as Pakistan would act as China's proxy/ally in any future conflict.

hence the recent emphasis on modernization and the development of the "cold start" doctrine.

[Clio the Leo]

6. And 737's. nt

[rug]

24. And 10 Globemaster military transports and 107 fighter engines.

Meanwhile, the commercial deals signed include the sale of 10 Boeing C-17 Globemaster III military transport aircraft to the Indian Air Force. This transaction is valued at approximately $4.1 billion with an estimated 22,160 jobs to be created. Boeing and India's SpiceJet also concluded a definitive agreement for the sale of 30 B737-800 commercial aircraft. This $2.7-billion transaction could support up to 12,970 jobs.

General Electric Company will also provide the Indian Aeronautical Development Agency with 107 F414 engines to be installed on the Tejas light combat aircraft. Harley-Davidson Motor Company will open a new plant in India for the assembly of Harley-Davidson motorcycles from U.S.-built "complete knock-down" kits.

From the link posted below: http://www.ibtimes.com/articles/79333/20101106/obama-india-united-states-trade-deals-jobs-aircrafts-asia-boeing-general-electric-harley-davidson-ec.htm

[Clio the Leo]

34. You're right, the 2nd largest nation in the world should have a crappy air defense...

.... sure, screw em.

Besides, in a few years, they can just buy some from the Chinese instead.

[vaberella]

41. *High-Five* n/t

[rug]

54. I doubt China is about to arm India.

[Codeine]

38. Fantastic!

Military transport aircraft also serve as the primary supply for emergency equipment and survival goods in the even of natural disasters, which India knows a thing or two about. And every fighter jet engine or big-ass transport craft we sell them is one less Europe or China does, thus ensuring American jobs.

And selling CKD Harleys to India could mean a shitload of increased American production -- even more jobs.

[rug]

55. The way out of this economy is not to become an arms dealer, unless your name is Krupp.

[golfguru]

16. As the largest stable democracy in the world,

can you think of a better country than India in Asia to
form strong alliance as a counter-balance to Chinese ambitions?

[rug]

25. Strong alliance as in military alliance?

Seems to me you agree the import of this news is one of foreign policy and military strategy rather than an initiative to create domestic jobs.

Me? I'd rather see the development of the U.S. infrastructure to create jobs.

[Clio the Leo]

35. Then I hope you've called and written your congress people re: this...

The Obama administration said Monday that it would ask the lame-duck Congress next month to approve a $50 billion down payment on his long-range initiative to improve the nation’s roads, railways and air systems
http://www.nytimes.com/2010/10/12/us/politics/12obama.html


Or would you like to share with us what's wrong with THIS idea? "They're just gonna use those roads to ferry the national guard back and forth on!"

[rug]

56. My lame duck Congressman was not reelected. Maybe he should have done this before the election.

[Clio the Leo]

59. Did you call him before the election? nt

[rug]

60. I phone banked for him for hours.

None of which, of course, changes the military nature of the OP.

[Clio the Leo]

65. No, did you call your congressman re: this infrastructure proposal?

.... which was announced on Oct. 11th.

Nevermind, I know your answer ... should have been announced on 1/20/09 ... but Obama was too busy droning his way to corporate servitude ... or something.

[golfguru]

45. I don't see how those two are in conflict

If the Indians buy more military stuff from us, it maintains
and creates jobs and that means more tax revenue to build infrastructure projects.

[grahamhgreen]

9. Next step - just move the factory to India!

Why build em here at all?

:sarcasm:

[vaberella]

11. Huh...n/t

[Clio the Leo]

12. So we shouldn't export anything?

Because doing so might ultimately lead to the loss of US jobs?

Interesting logic.

[vaberella]

42. Shit...this would have been great if it was 1 month before the damned elections.

Crap...we would have won.

[Phx_Dem]

13. What? I guess it's better if no one buys our exports

so we won't have to worry about producing anything.

You obviously didn't read the part that said those exports will create 50,000 jobs in the U.S.

LAME.

[golfguru]

17. dupl delete

[golfguru]

18. That can also happen if..

>>regulatory restrictions in US make manufacturing uncompetitive with other countries,

>>Corporate taxes in US (currently 2nd highest in G-20
countries) make it uncompetitive with others,

>>Union wages in US make manufacturing uncompetitive
with others.

No manufacturing outfit can survive here with negative
profits. That is just the reality in life.

[grahamhgreen]

47. Really, my corporation has NEVER paid taxes. Does yours? GE/Exxon paid 0% last year

It does not matter what the rate is if the loopholes allow you to pay nothing.

2) Regulations keep our country clean and safe. It is the free trade agreements that make us uncompetitive.

3) Good wages are what build a strong economy. No one who makes $3/day can by a $30,000 car.

Trade barriers and tariffs are what made America strong - time to get back to basics.

4) Why not just build the factory in India - would that not make more profit for the company?

[Codeine]

28. Another one of your massively useful contributions. nt

[Duchess]

14. They will be a good ally

for our economic war with China.

They'd also be helpful in any sort of armed conflict in that region. They have a lot of people who can carry rifles if China pisses them off.

[golfguru]

19. If you wish to watch one video about India.....this one will jolt you

http://www.youtube.com/watch?v=xjB_Tf7Cy3A&feature=related

For history buffs, India had the largest GDP in the world for 1000 years until the 17th century.

[Charleston Chew]

20. trade deals with India; 54,000 jobs eyed

http://www.ibtimes.com/articles/79333/20101106/obama-india-united-states-trade-deals-jobs-aircrafts-asia-boeing-general-electric-harley-davidson-ec.htm

[vaberella]

43. Good stuff. Probably more soon enough.

He's going all over Asia brokering new deals. Not just India.

[Vehl]

21. This is good news!

Trade should be beneficial to both parties.

In fact, even as early as 2008/9 the deficit of trade between India and America on the combined goods&services were almost zero. now with these deals, im sure America would actually have a positive trade balance.! ;)

here are some interesting statistics/graphs for those interested
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9068794#9069355

Im sure, that In the future the American companies would definitely find even bigger market in India, if the trend of the past few years is but any indication

[Gin]

27. who all went with him? I couldn't find what business people went

along

[Vehl]

30. I have no idea either

For all the talk one sees on news articles about the hundreds of businessmen who went along, they are rather short on detail


However, I could go out on a limb and guess that maybe half of them were defense + nuclear tech manufacturers.
Apart from the lucrative deals they make from India's military modernization, apparently there is a market of nearly 100 Billion up for grabs over the next 5-10 years are India expands its nuclear energy field to support a growing demand for energy.

Japan is also another nation which has its eyes on these deals.


ps:
On edit
I found some details about the deals, check post #32

[chill_wind]

50. USIBC (trade org representing 300 corporations) seeking a Free Trade agreement

among other things.

http://www.usibc.com/usibc/default


See also: http://economictimes.indiatimes.com/news/politics/nation/Obama-embarks-on-a-sales-trip-to-India/articleshow/6875707.cms

More than 200 business leaders, including those from the Fortune 200 to small and medium enterprises, are making the trip to India for the Obama visit.

The business delegation meeting Obama will include Honeywell International Inc's David Cote, who co-chairs the India-US CEO Forum with Tata Sons chairman Ratan Tata, Boeing Co's Jim McNerney, General Electric Co's Jeffrey Immelt and Mcgraw Hill Companies' Terry McGraw , who is also USIBC chairman.

Louis Chênevert, CEO of aerospace major United Technologies Corporation and Ellen Kullman, chief executive of chemicals giant DuPont may also be joining.


Washington is also eyeing some multi-billion-dollar defence deals, including a $10-billion project for 126 fighter bombers that the Indian Air Force plans to buy and for which two American companies-Boeing and Lockheed Martin-are among six contenders.

The Boeing C-17 sale reportedly accounts for 22,000 of the 54,000 jobs.

http://www.mcclatchydc.com/2010/11/06/103318/obama-makes-it-all-about-business.html

[chill_wind]

49. Here:

http://economictimes.indiatimes.com/news/politics/nation/Obama-embarks-on-a-sales-trip-to-India/articleshow/6875707.cms

[Codeine]

29. DU suddenly has a bug in its ass that we're going to FINALLY

start doing serious business with the world's largest democracy? I find this place mystifying at times. India is the future, guys.

[Clio the Leo]

36. isn't it crazy?

"Make some jobs Obama!!!!!! ...... NO!!! THOSE WEREN'T THE KIND OF JOBS WE WANTED!!!!!!!"

[golfguru]

44. The bug is only in those whose IT jobs went to India

I feel their pain, but having written a few million lines
of code in my lifetime, programming skills are widely available and if I could learn that then any one can.

[avaistheone1]

52. By the same logic anyone can build a car, teach a child, nurse a patient

etc, shall we send all our work to the country that will pay the lowest price for these services, or just import people to do these jobs for the least possible wages, given it apparently doesn't matter what standard of living American workers have.

[golfguru]

64. You are confused about fair trade

Trade between US and India has parity. Which means we do not
have a trade deficit with India. We sell them stuff and they
buy stuff from us. That is good for both countries since we are
better at making certain things (see list in Obama's trade agreement) and we can buy goods and services from them to help us stay in business and keep consumers happy.

What is bad is when a country exports much more stuff to us than buys from us. Right now we have a huge trade imbalance with China. And that is not good for us. We need to have a fair trade. Which includes floating currency rates, limits on imports, tariffs on imports etc.

[avaistheone1]

48. I have had a preview of the future and it sucks.

Outsourcing our IT jobs to India has pretty much killed off the IT industry here. Look at the damage it has done in California, and that is just one state.

Those were a lot of good jobs down the drain. The 56,000 new American jobs are like a grain of sand compared to what we have lost.

[FrenchieCat]

51. Some folks just aren't well informed, but pretend that they are.......

they hear certain words, and without understanding anything, determine that whatever
it is, it couldn't be positive.

[Vehl]

32. the number is raised to 15 Billion now!

Indo-US business deals worth $15 bn struck

Washington/Mumbai, Nov 6 (IANS) Ahead of US President Barack Obama’s address to CEOs in Mumbai, the White House announced the following deals worth almost $15 billion that will support 53,670 jobs in the US.

The following is the list of deals:

-Heavy Transport Aircraft: Preliminary agreement between the Boeing Company and Indian Air Force on the purchase of 10 C-17 Globemaster-III military transport aircraft. This transaction is valued at $4.1 billion in US export content, supporting 22,160 jobs.

-Engine Sale for the Light Combat Aircraft: Connecticut-based General Electric to supply provide 107 engines for the Tejas light combat aircraft of Hindustan Aeronautics. This transaction is valued at $822 million in US export content, supporting 4,440 jobs.

-Commercial Aircraft Sale: Boeing Company to sell for the sale of 30 737-800 commercial aircraft to SpiceJet, which currently operates 22 Boeing aircraft. This transaction is valued at $2.7 billion, with US expoert content of $2.4 billion, supporting 12,970 jobs.

-Gas and Steam Turbine Sale: General Electric to supply six advanced gas turbines and three steam turbines for the 2,500-megawatt Samalkot power plant of Reliance Power, part of the Reliance Anil Dhirubhai Ambani Group. The deal is valued at $750 million, with $491 million in US export content, supporting 2,650 jobs.

-Financial Support on Infrastructure: US Ex-Im Bank Agreement will provide Reliance Power, the flagship of Reliance Anil Dhirubhai Ambani Group, $5 billion in financial support for the purchase of US goods and services for 8,000 megawatts of gas-fired electricity generating units and 900 megawatts of renewable energy.

-Diesel Locomotive Manufacturing Venture: The Indian Ministry of Railways announces pre-qualification of GE Transportation and Electro-Motive Diesel for a venture to make and supply of 1,000 diesel locomotives over 10 years. The estimated US content of contract to exceed $1 billion.

-Motorcycle Assembly Plant: Harley-Davidson Motor Company says preparations underway to open a new plant in India for the assembly of motorcycles.

-Mining Equipment: US Export-Import Bank announces approval of more than $900 million in export finance guarantees to Sasan Power, a subsidiary of Reliance Power, supporting the sale of US mining equipment and services from Bucyrus International and other vendors for 3,960-megawatt coal-fired Sasan power plant in Madhya Pradesh. This commitment supports $641 million in US export content, and estimated 3,460 jobs.

-Tunneling Equipment: Robbins Company of Ohio announces an agreement to provide tunnel-boring machines, conveyer equipment, and associated technical services for Mumbai. The Mumbai contract alone is valued at $10 million, with $7 million in US. export content, supporting an estimated 35 jobs.

-Homeland Security Pilot Projects: Palantir Technologies in Silicon Valley announces a strategic partnership agreement with the Maharashtra State Police for pilot program on end-to-end analytical software platform to identify and alert authorities to security threats in order to help keep the citizens of Mumbai and Maharashtra safe.

-Medanta Duke Research Institute: Duke Medicine in North Carolina, one of the leading academic health systems, and Medanta Medicity in Gurgaon, announce joint venture to on clinical research. Duke will be partner Jubilant Life Sciences of Uttar Pradesh to conduct research studies and co-develop promising discoveries.

- Long-range Antenna System for Rural Telecommunications: SPX Communication Technology in Maine in the final phase of the pilot deployment of its long-range antenna system with two leading Indian mobile operators. The value of the initial trial equipment is expected to generate $1 million, with 100 percent US export content.

-Pre-fabricated Housing: Spancrete Machinery of Wisconsin announces the sale of six sets of its hollow core, precast production equipment, including installation, training, and after-sales support, to Hindustan Prefab. This transaction is valued at approximately $35 million, all of which is U.S. export content, supporting 30 jobs.

-Cell Phone Rollout: Intuit of California will launch new mobile and web-based marketing service in partnership with Nokia. This innovative technology will help Indian micro and small businesses.

-Unique Identification Project: L-1 Identity Solutions of Connecticut and other US firms pre-qualified by the Unique Identity Authority of India for the first phase of an effort to register Indian residents with a 12-digit unique number using biometric identifiers.

-Precision Measurement Instruments for Fuel Cell Research: Advanced Materials of Pennsylvania to supply a specially-designed pressure-composition isotherm measurement onstrument to the Banaras Hindu University in Varanasi.

-Trace Explosive Detection Equipment: Implant Sciences of Massachusetts signs contract with the Ministry of Defence to supply its Quantum Sniffer H-150, trace detection devices for the Indian Army to detect the presence of explosive, bomb-making materials that could be used in a terrorist attack. The transaction is valued at $6 million, all of which in US export content, supporting an estimated 30 jobs.

-Helicopter Sale: Bell Helicopter of Texas has signed agreement with Span Air, a private Indian air charter company, for its first Bell Model 429 corporate VIP helicopter in. Bell recently sold its 100th helicopter in India.

-Pre-owned Refurbished Healthcare Equipment: Skelley Medical of New Hampshire to sell refurbished medical equipment to Indian hospitals in second and third tier cities.

-Monitoring Equipment for Greening Buildings: Noveda Technologies of New Jersey finalizing a venture with Chennai-based Wysine Technology to jointly develop and market a new solution for web-based, real-time energy monitoring for greening of buildings.

-Dredges for Maharashtra: Ellicott Dredges in Maryland announces sale of two cutter suction dredges to the state-run Maharashtra Maritime Board. The equipment will be utilized to dredge a fisherman’s port and various tributaries in the state of Maharashtra.

http://www.thaindian.com/newsportal/business/indo-us-business-deals-worth-15-bn-struck_100455762.html

:toast:

[Clio the Leo]

37. Those aren't motorcycles!

Those are MIC killing machines!!!!! :)

[vaberella]

39. I thought it was all military?! This is not military. This is instrumental stuff for development.

Brilliance. Obama did a win for us and for them. Shit, fuck, bugger!! I love my President. :woohoo:

[dave29]

46. WOOT.

Jobs, folks.

:toast:

[butterfly77]

33. Bush makes trade deal..

we get mangoes they get nuclear weapons..

[vaberella]

40. ...

:rofl:

[jeanpalmer]

53. The implication here is he has created jobs

when all he did was announce contracts negotiated between private parties. For all we know, he had nothing to do with them. Certainly most of them were done deals before he even touched down in India. Maybe he had to approve the sale of sensitive military or dual-use technology, but why are we selling this stuff to a competitor or potential enemy. No one can predict what they will eventually do with this stuff. It's similar to his efforts to sell advanced fighter jets to Saudi Arabia. Does that make any sense? We should be keeping this technology to ourselves, if national defense means anything.

How many of these contracts did he or his staff negotiate?

[butterfly77]

61. K&R!