India and the United States on Wednesday announced the launch of an initiative to "integrate small businesses in both countries into a global supply chain."
The initiative is intended to expand bilateral trade and create job opportunities in the small and medium-sized companies in both the US and India, a commerce ministry release said.
Visiting Indian commerce and industry minister Anand Sharma and US trade representative Ron Kirk also signed the India-US trade policy forum framework treaty for cooperation on trade and investment, in Washington yesterday.
The treaty seeks to build on the success of the Trade Policy Forum by facilitating trade and investment flows between the US and India.
Speaking at the function, Sharma said the `Framework for Cooperation on Trade and Investment' would create the right environment to ensure maximum benefits to maximum number of people on both the countries.
Such cooperation would also ensure inclusive growth, Sharma added.