India-US economic cooperation likely to deepen after Congress gives Modi the go-ahead

India and the United States have reached a “historic agreement” to expand their economic cooperation after Congress gave the Modi government the go.

A senior administration official told The Hill on Monday that the “historic” agreement would give the Modi administration a way to “unlock the full potential” of the US-India economic relationship.

The official spoke on condition of anonymity because they were not authorized to speak to the media.

It is expected to help India “unleash its entrepreneurial spirit and drive innovation that can help India to lead the global economy and the world in the 21st century,” said the official.

It comes as Indian Prime Minister Narendra Modi has vowed to usher in a “new era” in the country’s economic relationship with the US, where the two nations signed the Indo-US Strategic Partnership Agreement in January.

This will “open the doors to the world to create jobs for millions of Indian citizens, and the entire country can become a new global hub for the US economy,” Modi said during a visit to the US on Monday.

India and the US have agreed to “expand and deepen our bilateral economic, political and strategic relations,” a White House statement said.

“India is also expected to continue its participation in a number of important US programs including the US Export-Import Bank and the Export-Cap and Trade Agreement.”

Indian Prime Minister’s visit to Washington was the first since the US withdrew from the Trans-Pacific Partnership (TPP) trade pact.

The pact was signed in 2015, but has been stalled since Trump took office in January following a fierce backlash from both countries.

India has been pushing for more trade and investment with the United Nations and is also one of the few countries that has been actively supporting efforts to fight climate change.

However, the pact is still a work in progress.

India and many of its allies have expressed concern over the deal’s future, and many countries in the world remain skeptical about it.

The Trump administration is expected soon to announce details of a $1 trillion plan to fund infrastructure projects and boost US manufacturing.

India has repeatedly expressed skepticism over the plan, which has also been blocked in the Senate.

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