New Delhi, Nov 7 (IANS) Business and economic relations between India and the United States are likely to improve with the re-election of US President Barack Obama, Finance Minister P. Chidambaram said Wednesday.
"I congratulate President Obama and hope that Indo-US relations will get stronger, especially economic relations," Chidambaram told reporters here.
Obama defeated his Republican challenger Mitt Romney in a hard fought election Tuesday.
Meanwhile, India Inc. has also welcomed the Obama re-election, saying it would help further strengthen American economic and strategic partnership with India.
"A historic second term for Obama augurs well for the now established India-US strategic and economic partnership," said R.V. Kanoria, president, Federation of Indian Chambers of Commerce and Industry (FICCI).
"The strategic partnership has been nursed painstakingly by the Obama administration and we roundly applaud the stellar vision of President Obama in strengthening cooperation in higher education, defence and homeland security, agriculture and nuclear cooperation," Kanoria said.
Applauding Obama's re-election, Adi Godrej, president of the Confederation of Indian Industry (CII), said: "Indian industry is hopeful that both countries will continue to strengthen economic ties by lowering barriers to trade and investment, and fostering a climate that is conducive to the growth of businesses on both sides."
"We look forward to working with the Obama administration to make this a concrete reality," Godrej said.
Anand Mahindra, chairman of Mahindra and Mahindra, said in the second term Obama would strive to build a real legacy, keeping aside politics.
"The second term of a US president is the more fascinating one. With politicking out of the way, it's time to build the real legacy," Mahindra said on Twitter.