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If you want India to lower tariffs and facilitate more free trade, then I think Indian producers also have a right to enter the European market.

Import and substituting imports with domestic production are a big opportunity. With a devaluation of the rupee, imports get expensive, and for Indian manufacturers, this creates a huge opportunity.

Old ideas of not trading because 'they won't open their markets to us' miss the entire point of allowing goods to be imported into the United States - because we want and need them and because someone here believes that the good or service received in exchange for our dollars creates value for them.

Trade means jobs, but trade also means security. The time has come for all of us to urge the swift adoption of the Trans Pacific Partnership.

If done correctly, strengthening our trade relationship with India will create jobs here in America.

We live in an inter-dependent world. An isolated India is not in our interest.

This is the moment when we must build on the wealth that open markets have created, and share its benefits more equitably. Trade has been a cornerstone of our growth and global development. But we will not be able to sustain this growth if it favors the few, and not the many.

We must recognise that in a globalised world, we cannot remain insulated from external developments. India's trade performance in the current year has been robust, surpassing pre-crisis export levels and pre-crisis export growth trends. We have diversified our export baskets and our export destinations.

It's important to focus on how we can strengthen international trade.