Politics and economics are interrelated.  Therefore we cannot develop country’s economy unless there is greater political stability.  The new US government must appreciate this aspect.  This is even more important for India since Indian politics is getting more and more coalition driven.

At this point US should not push India into corners over issues like Kashmir and comprehensive test ban treaty(CTBT).  We just witnessed how the UPA Government at the centre almost collapsed on N- Deal issue.   US can indeed demonstrate the commitment to world good by signing the Kyoto protocol and reassert its world leadership position.

We need  more H1 B visa available for India .  The Government must have in place regulations to eliminate exploitation by employers and easing the life of H1 B visa holders.

During crisis, business transformational solutions are a must to ensure greater competitive advantage for the organizations especially  Fortune 500 / Global 1000 companies . They must maintain their leadership position against the Korean and Japanese companies and the likes. This is also important to bounce back with greater momentum at the time of recovery when it happens .For  transformational solutions Indian IT companies can be the effective  partners.  Key Auto OEMs in US are reporting 30-40% dip in sales.Such transformational solutions can definitely improve their competitiveness.  Unfortunately these companies are not in a position to invest in transformational solutions but they are ready to accept this solutions with deferred payments and value based pricing.  Indian IT companies feel little shaky taking this opportunity in view of the looming uncertainty.  This is where the US Federal Government can come as guarantor and possibly create a fund to facilitate implementation of such business transformation solutions.

We need greater cooperation in aerospace and defense sector and working together in India’s offset programme. Different State Governments are taking initiatives to build Aeroparks. Indian and US companies can start working at the right earnest  in these aeropark projects in a win-win situation.

Many acquisition and merger between Indian and US companies are in the offing.  Appropriate Government mechanism is needed to see smooth transition.

Other potential areas of growth in Indo-US cooperation are global warming and scientific research.

Agriculture comprises of more than 25% of India’s GDP.  It is important to seethe growth of agricultural sector in the country which will lead to cascading effect for the overall growth of the economy in India.  It is expected that US takes note of India’s concern at WTO.  The concerned leaders of India and US must ensure greater cooperation in this sector.  Instead of calling the current situation an economic recession, I would prefer to call it happiness recession.   India and US therefore have greater role to play together in promoting better political and economic condition across the globe. This in turn will not only help coming out of the recession but it will also enhance the global happiness quotient.