Sunday, November 7, 2010

Big contracts for Obama...

US President Barack Obama has announced $10bn (£6.2bn) in new trade deals with India. He was speaking in Mumbai at the start of a 10-day Asian tour designed to boost US exports and create jobs.

Some of the deals included:
  • The sale by Boeing of 30 new 737 aircraft to private Indian airline SpiceJet. The White House says this will help support over 12,000 US jobs.
  • Preliminary agreement had been reached on the Indian purchase of 10 Boeing C-17s military transport planes.
  • The sale by GE of fighter 107 F414 jet engines to the Indian military.
  • A separate deal with GE worth $500m (£309m) for the sale of six heavy duty gas turbines and three steam turbines to India's Reliance Energy Ltd.
  • Harley-Davidson plans a new plant in India to assemble American-made motorcycle kits.
  • The White House said India had identified GE subsidiary GE Transportation, based in Erie, Pennsylvania, and Electro-Motive Diesel, of LaGrange, Illinois, a unit of Caterpillar Inc, as bidders to supply Indian railways with over 1,000 diesel locomotives over 10 years.
The deals for new export business with India would help to support around 54,000 jobs in the United States.

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