Obama’s visit to focus on pushing US exports

Washington: Ahead of US president Barack Obama's visit to India, the government here has said that it is looking at the country as a big market for American exports and expects several commercial deals during his stay, report PTI.

Officials here said that Mr Obama is expected to focus on removal of barriers to US exports and for greater American participation in the Indian market to create jobs back home.

"I think one of the major themes...the president is likely to emphasise is that...India is also a tremendous market, potential market, for US exports and a source of investment back in the US," Deputy National Security Advisor Mike Froman told reporters yesterday at a White House briefing.

"...It's a tremendous opportunity for goods, services, agriculture that he'll be pursuing while he's there for supporting jobs back here in the US," he said, adding that some major commercial deals are likely to be announced during the Mr Obama visit to India next week.

Besides, White House spokesman Robert Gibbs said Mr Obama's focus during the visit would be that economic relations with India create jobs back home.

"I think we'll see as we get closer - not just the genuine potential of the market for American companies but some tangible impact in supporting and creating jobs here in America," Mr Gibbs said, adding that it would be consistent with their national export initiative.

Mr Froman said there's an ongoing dialogue between the two governments about outstanding trade issues, and Mr Obama will make clear the importance of removing barriers to US exports and US participation in the Indian market.

He said a number of commercial deals are likely to be announced during the trip.

"There are a number of large contracts being worked on between US companies and their Indian counterparts, oftentimes with the support of the US government in terms of our advocacy efforts or our trade finance being available. We hope to consummate some of these deals in the run-up to the president's visit," Mr Froman said.


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Food inflation falls to 13.75% for the week ended 16th Oct

New Delhi: Food inflation declined sharply to 13.75% for the week ended 16th October 16, falling by 1.78 percentage points from 15.53% in the previous week, reports PTI.

Government data showed that food inflation fell on improved kharif supplies and fall in prices of certain vegetables, especially potatoes and onions.

This is the second consecutive week when food inflation has declined.

On an annual basis, potato prices eased by 49.69% and onions became cheaper by 6.93%.

Overall, prices of vegetables went down marginally by 0.77% during the week on a year-on-year basis.

However, other essential items like cereals, milk and fruits continued to remain costly.

Experts said the impact of a good monsoon was slowly becoming visible on prices of essential items, as supply side pressure was easing after a good kharif harvest.

On annual basis, cereals prices have risen by 4.97%. While pulses became costlier by 4.16% on a yearly basis, wheat and rice prices increased by 6.56% and 3.49%, respectively.

Among other food items, milk prices soared by 21.65% during the week compared to the same period last year, while fruit rates rose by 16.06%.

Eggs, meat and fish became dearer by 28.12% on an annual basis.

After some moderation in July, food inflation remained high during August and September due to supply disruptions, caused by heavy monsoon


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