OBAMA VISIT TO INDIA

Highlights of President Obama’s India visit

Barack Obama at the official ceremonial welcome before the Guard of Honour inspection at Rashtrapati Bhavan in New Delhi.

Obama also paid floral tributes to Mahatma Gandhi at the Rajghat memorial

Barack Obama and US first lady Michelle Obama during a state dinner hosted by India at the Rashtrapati Bhavan presidential palace in New Delhi

Obama came to the Republic day parade in his own high- secure bomb-proof vehicle, the Beast, instead of travelling with president Pranab Mukherjee in the latter’s car.

Obama greets the crowd at the Republic Day parade.

. Narendra Modi and US President Barak Obama, chief guest of the Republic Day celebrations, while watching the fly-past in New Delhi

Indian soldiers march in formation down the ceremonial boulevard Rajpath during the Indian Republic Day parade in New Delhi.

The diversity of cultures across India was on full display when floats of different states showcased their respective cultures. Goa’s float marches through the parade.

A military marching band riding camels performs at the parade in New Delhi.

India also displayed its military might along with cultural heritage. Military weapons move along the parade route in New Delhi.

The US President addressing the crowd at the Siri Fort auditorium, New Delhi.

Obama shares his views on the ‘Mann Ki Baat’ radio show with PM Modi.

Top 9 business and financial takeaways from Obama’s India visit

1) Bilateral Trade Will Be Increased:-  As of now, India accounts only 2% of US imports and meager 1% of exports; while they do $560 billion business with China every year, only $100 billion worth of goods and services are exchanges with India yearly.

2) $1 Billion Assistance for Indian SMEs: US Government’s business development and finance arm: U.S. Overseas Private Investment Corporation (OPIC) will give an assistance of $1 billion for Micro-SMEs and SMEs from rural and urban India.

3) $1 Billion Assistance for Make In India exports:  U.S. Export-Import Bank will provide an assistance of $1 billion for Make in India campaign launched by PM Modi, which will help made in India products to be exported to US and increasing trade relations in this sector. Special focus would be provided in infrastructure development.

4) Civil Nuclear Deals To Be Finalized:  One of the most important decisions taken after Obama’s visit to India was breaking the deadlock on Civil Nuclear deals, which was stuck since last decade.  India agreed to amend few of it’s clauses related with Insurance, and in return US pledged to make it go live. India has created an Insurance pool worth Rs 750 crore led by General Insurance, and contributed another Rs 750 crore to make the insurance regulations stronger.

5) $2 Billion for Energy Investments In India:-  US Trade & Development Agency will pitch in with $2 billion investments in the renewable energy sector in India, which includes Solar Power and Wind Energy to help India solve its energy crisis, and to bring down costs related with power production using traditional means.

6) US India Strategic and Commercial Dialogue:  A high level US India Strategic and Commercial Dialogue has been created which will help break the red-tape logjams which Indian government is so notoriously famous for.  Obama was blunt when he said that India had “too many barriers, hoops to jump through, bureaucratic restrictions that make it hard to start a business or export or import or close a deal”.

7) H1B Visa Issues To Be Resolved:  Obama promised Indian government that he will look into the H1B visa issues, which had been causing much trouble to Indian businesses who wish to expand their base in USA.  A comprehensive migrant reform draft would be soon created by US, especially targeting Indian techies and businesses establishments for making H1B visa regulations easier and trade- friendly.

8) Smart Cities MoU:  US Government has signed MoUs with Governments of Uttar Pradesh, Andhra Pradesh, Rajasthan for developing smart cities in Allahabad, Ajmer and Visakhapatnam.  US Government will provide funds and technical knowledge for feasibility studies, study tours and workshops to materialize the idea into reality.

9) Intellectual Property Rights Issue To Be Resolved:-  US Companies have been stating that India has some old and useless laws related with Intellectual Property Rights, especially in the pharmaceutical sector where US has banned several Indian companies. Indian Government has promised to upgrade their laws related with IP protection, which will further boost Indo-US trade relations.promised to upgrade

Obama and Michelle bid farewell prior to their departure from Air Force Station Palam on Tuesday.