MUMBAI, India — Days after reaping the political consequences of a poor economy, President Barack Obama announced a set of measures Saturday to increase trade between the United States and India, his first stop on an Asian tour focused largely on promoting economic growth at home.
In an address to several hundred American and Indian executives in this historic trading port, Obama said he would make “fundamental reforms” to the export controls that guide trade between the countries.
Administration officials said those include removing several Indian space and defense companies from the so-called entities list, which identifies firms that manufacture products with dual civilian and military purposes and makes it more difficult for them to trade with the United States.
Obama also informed Indian officials that he will support the country’s membership to four international alliances responsible for regulating trade in nuclear, chemical, biological and missile technology and materials, including the Nuclear Suppliers Group.
Indian leaders have aspired to join, but U.S. nonproliferation groups immediately criticized the move for weakening the world’s ability to monitor nuclear trade.
“I’m here because I believe that in our interconnected world, increased commerce between the United States and India can be and will be a win- win proposition for both nations,” Obama told the U.S.-India Business Council, drawing applause. “I realize that for some, this truth may not be readily apparent.”
Recalling an issue from the midterm campaign trail, Obama said “there are many Americans whose only experience with trade and globalization has been a shuttered factory or a job that was shipped overseas.”
“There still exists a caricature of India as a land of call centers and back offices that cost American jobs,” he said. “But these old stereotypes, these old concerns ignore today’s reality.”
Obama’s remarks placed the U.S. economy at the center of his first extended foreign trip this year and highlighted the political challenge he faces in promoting economic policies abroad that divide Americans at home, including many within his own party.
He plans to speak throughout his 10-day trip to four Asian nations about how his foreign policy goals relate to U.S. economic interests at home.
To underscore the point, Obama alluded in his speech to a set of newly consummated export contracts, some in the works for months, between American companies and the Indian government and private firms.
Administration officials said the deals — including the sale of military transport aircraft, civilian airplanes, mining equipment, and jet engines — are worth $10 billion and support 54,000 jobs in the United States.
