US announces $10 billion in trade deals with India

November 6, 2010 13:35


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MUMBAI, India — President Barack Obama is announcing trade deals worth $10 billion with India that are expected to create 54,000 US jobs.

He's also unveiling new export rules designed to make it easier for US companies to do business with the nation of 1.2 billion people.

Obama was to make 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 Boeing 737s by India's SpiceJet Airlines and the Indian military's plans to buy aircraft engines from General Electric.

For the most part, the deals were already pending. But the White House claims Obama's visit to India helped seal them.

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