India, US to resume talks on bilateral investment treaty: Modi (Lead)

New Delhi, Jan 25 (IANS) India will resume its dialogue on bilateral investment treaty with the US as the economic growth in both countries is becoming stronger, Prime Minister Narendra Modi said Sunday.

"Economic growth in the two countries is becoming stronger. We will resume dialogue on bilateral investment treaty," he said at a joint press meeting with US President Barack Obama after their talks.

Modi also said India will start discussion with the US on the social security agreement which is important for hundreds of thousands of Indians working in the US.

In his statement, Obama said: "Our economic partnership has grown and our economic partnership will improve daily lives of our people. We have identified the bilateral investment treaty to discuss further."

"The prime minister has informed me about his missions of economic prosperity to improve the lives of rural Indians with bank accounts, clean water and clean air. We are working on providing assistance to all these," he added.

Obama spoke about Modi's recent reforms to ease doing business in India.

"Since my last visit here and the address made to your parliament, trade has increased and we are cooperating on key global challenges. The trade between our country has increased by more than 60 percent and it is going to reach $100 billion," he said.