India, US set to sign $8 billion worth of new deals, Powell

The new US ambassador to India, Nancy Powell has said that India and the US are set to sign an additional $8 billion deal for direct commercial and foreign military sales as India merged one of the leading importers of defense equipment from the country.

She pointed out that the defense relationship between the two countries has grown at the fastest rate in Asia pacific region. "With the C-17 and C-130J sale, we have more than doubled our total foreign military sales and posted sales making India the third largest FMS market for 2011,"' she said. Powell was speaking at the 20th annual general meeting of the American Chamber of Commerce.

During her first public speech in the newly host country, she did not describe details of the deals that are likely to be signed between the two countries in the coming time. She claimed that the US president Obama has called for reforms to US export control system will create a more streamlined approach to secure trade with other countries including India.

"As we share more common equipment, our bilateral defense ties will become stronger. India will be able to assume a larger leadership role in the region and effectively respond to security concerns and humanitarian relief operations,'' she said. She pointed out that the purchase of equipment is important for India's military modernization plans.