US, India in win-win ties: Obama, Manmohan Singh

Calling the ongoing US-India business deals a win-win affair, President Barack Obama on Monday said Indians can take the technology of USA and apply them back home with different business models, as he referred to how India can gain from the American jobs created from striking deals in his ongoing trip.

To a question at the joint press conference of President Obama and Prime Minister Manmohan Singh, the US president said: ?US companies are creating jobs in United States with technologies in which we get a lead, Indian business are going to take those technogies and grow Indian businesses as well.?

?And that is a win win situation. That makes this relationship so important,? he said.

?In every discussion I had with Indian businesses, what I have seen is that our countries are matched up in a way that there is enormous win-win potential,? he said.

He said some of the deals struck will create jobs in USA, but those technologies will allow Indian entrepreneurs to grow back home as well.

He said Indian business people who have taken American technology- solar cells, electric cars- were using those technologies in new ways in India, ?using different business models that apply to India and do good and create jobs.?

He said the jobs he created from the trip will help him tell the Americans that trade is not a one way street.

?I hope citizens of both countries understand the commercial ties,? he said.

Speaking at the press conference, Manmohan Singh said India is not in the business of stealing jobs from USA.

?Our outsourcing industry has helped improve of US industry,? he said.

He called the deals worth $ 10 billion stuck as win-win and said the intiative will be taken forward in the G20 meeting in Seoul later this month.