The basic Issue is US is going to loose its economical superpower status shortly. They will not be able to fund all its futuristic costly R & D projects. R & D in US is very costly. So they are very much in need of some partner having a strong well educated manpower having R & D capabilities. India fits into their requirement more than anybody else. That is why there are lots of US companies are coming to India and open their R & D centers in IT domestic goods and Electronic hardware. Now US government wants to replicate the model of what US's companies have done in India.
If US has to retain its dominance as the Super power, It can not retain without the help of India.
US' decision to enter into joint development with India is nothing but the extension of its policy and requirement.
India can make wonders and add value to US weapons like we did in case of Yakhont. How potent Yakhont was transformed into a super weapon with convergence Indian and Russian technology and made a success story. We can hope the same in case of US and India partnership.
There is serious flaw in this line of thought . Truth is that US will remain economical superpower for forseeable time !
Even if China manages to catch up with US in next few decades it will not be able to surpass US .....so both will remain in very tight race to break ahead of each other ....Both will remain number 1 for a very long time ....before one of them starts lagging behind .....
US is 14 trillion dollar economy ....14 times bigger than India's economy . does anybody really think that US is propping up these co-development projects because it is facing funds crunch ? I seriously doubt this line of reasoning .
Only objective of such initiative could be to solidify Indo-Us strategic relationship .
Truth is that US needs India on its side to achieve balance of powers in Asia pacific region ! Only India can possibly will be able to neutralize Chinese influence in region to some extent ....
US has been trying hard to forge US backed Indo -Japanese -Australian alliance ( something which didn't materialize because Australia backed off and India was not interested....)
The greater and greater entanglement of Indo-US relationship is by all means is directed at China's eminence !
There can't be any other reason why US should stoop low to a country like India which is essentially developing country ( although big potential ) .
off course everything that US does has fiscal aspect ....even as they befriend with somebody ...usually it is kind of trade !
I believe only reason US is showing so great interest in India is because they realize their position being seriously challenged by China !
They need heavy counterweight to China ...and there can't be better country than India under current circumstances !
India needs to be cautious not to get caught in the coming 'cold war' between US and China even though it will be forced to side with US !!!