BURNISHING HIS LEGACY:

[B]oth the U.S. and India think trade between their two counties could be much higher if some barriers could be lowered.

India's total trade with the U.S., including of services and goods, currently stands at about $100 billion. The two countries want to raise that figure to $500 billion.

Increasing the opportunities for trade in defense, aviation and nuclear-energy products, where the U.S. has an advantage, will be among the areas of focus during Mr. Obama's visit.

America "would like to see U.S. companies get greater market access over the next four or five years," said N.R. Bhanumurthy, an economist at think-tank National Institute of Public Finance and Policy.

In particular the U.S. wants India open its market to more international completion and investment in industries like retail, power and banking. It also wants clearer guidelines on how multinational companies are taxed.

One area where U.S. has out gunned China has been foreign direct investment. Over the past 15 years American companies have invested a total of $13 billion in India. China's FDI in India hasn't even reached $500 million.

Addressing a joint press conference on the first day of Obama's visit to India, Modi said in the capital New Delhi that both countries had achieved a breakthrough with regard to nuclear technologies.

"I am pleased that six years after we signed our bilateral agreement, we are moving towards commercial cooperation, consistent with our laws (and) international legal obligations," Modi said at the joint press conference with Obama.

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