As the contours of a new, improved partnership between the US and India unfolded before the world on the second day of American President Barack Obama's visit to India, the US president, on Monday, moved ahead with scaling up the India-US economic partnership which he said "was defined by so much untapped potential" between the two biggest democracies. Addressing an India-US CEO summit hosted by Prime Minister Narendra Modi, Obama committed a $4-billion financial package to set the ball rolling and said the two countries would work together to develop new technologies to help India leap forward. Obama said that his visit was not only about symbolism but substance as well and a vision of greater trade, investment and a stronger economic partnership. Modi, on his part, promised an open business environment, predictable tax regime as Obama raised issues of trade barriers and intellectual property while seeking ease of doing business in India. The financial package announced by Obama comprised a $2-billion commitment by the US Trade and Development Agency for renewable energy projects in India.
