“We want to invest in the industry of the future. The industry of the future is the one having clean technology. Such an investment will not only shape conducive environment for economic growth but also lead to inclusive growth with job opportunities,” said the visiting US Under Secretary of Commerce for International Trade, Francisco J Sanchez.

Sanchez is leading a high level trade mission to India and discussed with the Indian industry in Delhi, Hyderabad and Ahmedabad.

A MoU was signed between the Indian public sector, WAPCOS and the US firm Synergics in Delhi.

The proposed India-US Investment Protection Treaty was put in the backburner for several years due to differences between the two sides on the level of protection on investments sought by the US.

It is now back on the negotiating table and is moving forward, Indian Commerce Secretary Rahul Khullar said.

'Bilateral investment treaty is moving forward...,' he said after a meeting of the India-US Commercial Dialogue, co-chaired by him and Sanchez.

The US is one of the major sources of foreign direct investment (FDI) to India. Between April 2000 to August 2011, India received FDI worth $ 9.91 billion, according to official data.

The bilateral trade between both the countries stood at $ 45.5 billion in 2010-11.

'What Fransisco told me today gives first sure sign that these guys are back at the table. They want it to get moving,' Khullar said.

Both the sides also discussed other issues of bilateral interest. India has been voicing concern on hike in visa fee by the US which affects Indian services industry particularly the IT sector.

The US side insisted on further opening of the Indian economy in sectors like multi-brand retail and removal.