Obama announces $10b trade deals with India

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MUMBAI, Nov 6 (AP): President Barack Obama announced trade deals worth $10 billion with India that are expected to create 54,000 US jobs. He also unveiled new export rules designed to make it easier for US companies to do business with the nation of 1.2 billion people.
Obama made the announcements in a speech to US and Indian business executives Saturday on the first day of his 10-day, four-country Asia trip.
The commercial deals include the purchase of 33 737s from Boeing by India's SpiceJet Airlines and the Indian military's plans to buy aircraft engines from General Electric.
"It is hard to overstate the importance of Asia to our economic future," the president wrote Saturday in an op-ed in The New York Times.
Fazle Rashid from New York adds: President Obama can ill-afford to return home empty handed with opposition Republican baying for his ouster. No fewer than 240 US Chief Executives including GE's Jeff Immelt, CEO of Westinghouse and Boeing's Jim McNerney are accompanying the president. The trip could cling business deals worth $10 billion.
Among Obama's key goals will be pushing for contract to supply India with 126 fighter jets. India had so long relied on Russia for its military hardware. Other US goals include reducing tariff barriers where its exporters are strong including agriculture and engineering.
President Obama's message to India will be "if India wishes to access the global economy, it must open up its own".