US commerce secretary pledges to expand India trade and investment

Economic IndicatorsAssociated Press

The U.S. secretary of commerce has pledged to help expand investment in India's infrastructure and to promote trade.

Penny Pritzker spoke Wednesday to business leaders in the Indian financial capital, Mumbai.

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She said two-way trade has lagged in recent years but has still expanded by fivefold to $96 billion a year since 2000.

Pritzker said U.S. companies would like to work with Indian interests to help upgrade India's overburdened roads, power grids and ports, an undertaking estimated to require $1.7 trillion.

She also called on India to open further to foreign investment and respect intellectual property rights.

Pritzker is visiting India this week along with U.S. Secretary of State John Kerry. She will fly to New Delhi later to meet with senior officials in Prime Minister Narendra Modi's new government.