"We must also deal with our differences in a constructive manner, commensurate with a relationship of this importance," Rice said.
"We cannot allow such challenges to derail the future we are working diligently to build a future of greater prosperity, greater security, and consistent adherence to our shared values."
"As India continues to grow and to take on greater responsibilities on the world stage, we must work even harder to make sure this partnership lives up to its potential," Rice said highlighting "a few areas where we must keep pushing ourselves-and our partnership-to do more."
Stressing the "need to expand opportunities for trade and investment," she expressed "particular concern" over India's "local content policies" that "end up discouraging investment" and protection of intellectual property rights.
"Concluding a bilateral investment treaty would be a strong step forward, helping to attract more capital to India and benefiting Indians investing in industries across the United States," Rice said.
India and US "must also keep working together on major global challenges, such as addressing the drivers of climate change that have critical implications for every nation," Rice said.
"When it comes to promoting regional stability, the United States strongly supports efforts by India and Pakistan to expand their trade and commercial ties," she said.
"With sustained leadership from both governments, this will not only reap real economic rewards, it will help broaden the base of support for normalization on both sides of the border," Rice said.
The two countries also "need to strengthen our security cooperation to keep our nations safe and to address global challenges more effectively," she said.
"India is also essential to America's broader engagement with Asia, where many of our national interests converge," Rice said.
The US thus looked "forward to enhancing the ways that India's Look East policy and America's rebalance to Asia can be mutually reinforcing."
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