New York: India and the United States have immense scope to work together on construction projects in Iraq, Commerce and Industry Minister Arun Jaitley has said.

India has undertaken several construction projects in Iraq and thus has quite a lot of experience. India had yet to get payment for some of the construction done and some of what it did might even exist now after the war, he told a gathering at the Asia Society on June 11.

Besides, people of the two countries too have enjoyed a great relationship, he told the select audience.

Showcasing India as a highly desirable destination for investors, he said the government has taken the initiative to ensure all facilities in special economic zones (Sezs) in which the private sector would play a major role, give tax breaks and strengthen and develop infrastructure, including roads, rail and telecommunications.

A noteworthy achievement, Jaitley said, is that India has made tremendous economic progress despite wars with China and Pakistan and huge cost of fighting terrorism that claimed lives of 62,000 civilians and 8,000 security personnel.

It is important that progress has been achieved with the country maintaining democracy in which decision making is difficult process and in an era when dictatorships were seizing power elsewhere, he said

He also decried the huge subsidies being given by the rich countries to their farmers, something which the developing nations cannot match with the result their agriculturists in poor countries are becoming uncompetitive.

This issue is important to India as, he said, 65 per cent of the population or 650 million people still depend on agriculture.

PTI