The US President Barack Obama's announcement yesterday of US$10 billion (Dh36.72bn) in deals with India is good news for the US, as the world's largest economy cannot seem to shake high unemployment rates despite a general recovery.
Still smarting from a bruising mid-term election, which largely served as a referendum for his handling of the economy, Mr Obama needs to show the US he is pro-business and pro-employment - and both stances require boosting exports.
Against a backdrop of a US manufacturing base in decline and with US military spending levelling out, US companies are looking for international sales and Asian giants are high on the list.
India is also weighing a $4.5bn order for Boeing C-17 transport planes that would generate 22,000 jobs. Lockheed Martin and Boeing have also been shortlisted for a multibillion-dollar fighter jet contract, the size of which has not been seen for two decades.
Mr Obama is taking things further by lifting export controls of US technology and has removed India's defence and space organisations from the US "entities list", which stops them from doing business with the US.
He will be hoping to keep the good news rolling for the next nine days of a trip that includes stopovers in South Korea for the Group of 20 leading and emerging economies summit, and in Japan and Indonesia.
The news could have mixed results for the UAE. The growth of Indian airline fleets could create more competition for the country's airlines, although that might one day funnel more business into Abu Dhabi's aircraft maintenance operations.
igale@thenational.ae
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Five expert hiking tips
- Always check the weather forecast before setting off
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- Take your litter home with you
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
SPECS
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Killing of Qassem Suleimani
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
The specs
Engine: 3.8-litre twin-turbo flat-six
Power: 650hp at 6,750rpm
Torque: 800Nm from 2,500-4,000rpm
Transmission: 8-speed dual-clutch auto
Fuel consumption: 11.12L/100km
Price: From Dh796,600
On sale: now
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Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi
Yadoo’s House Restaurant & Cafe
For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.
Golden Dallah
For the cappuccino, luqaimat and aseeda.
Al Mrzab Restaurant
For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.
Al Derwaza
For the fish hubul, regag bread, biryani and special seafood soup.
Company%20Profile
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