U.S. President Barack Obama pledged $4 billion in investment and loans to India on Monday, soon after attending the South Asian nation’s 66th annual Republic Day celebrations as the guest of honor earlier in the afternoon.
Obama told a gathering of business leaders from India and the U.S. that both countries have “got to do better” in furthering an economic relationship “defined by so much untapped potential,” Reuters reports.
The U.S. Trade and Development Agency will commit $2 billion towards India’s renewable energy efforts, Obama said, while $1 billion each will be pledged to finance “Made-in-America” exports and Indian rural businesses respectively.
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