On Friday, Anand Sharma, India's commerce and industry minister said that his country was all set to start negotiating with the United States. The two countries were supposed to be in talks regarding the bilateral investment pact. They hoped to strengthen the ties with a valued trade affiliate through their efforts.

"We have said that 'yes, we are ready for it. We are in favor," Sharma told the media following his meeting with Michael Froman, US Trade Representative, and other officials in the US.

Sharma informed that the date was not set yet for the initial round of talks on the treaty. The treaty was expected to establish the terms and conditions for Indian and US investment in each other's nation.

"No, it was discussed today, and we have signaled our acceptance," Sharma stated.

The business groups in the US were eager to get a commitment to economic reform from India. They were described to be disappointed when a date for the negotiations was not set yet. This was following John Kerry's, Secretary of State, visit in India last month.