Noting that the Indo-US ties has lost the momentum seen in the early era of the Bush regime, a Task Force report on Thursday suggested President Barack Obama to include India as a G-8 member, open a new Consulate in Bangalore and appoint a high-profile aide for New Delhi.

"President Barack Obama should assign ownership of the bilateral dialogue to a high-profile aide and this person should promptly meet with Prime Minister Manmohan Singh's newly-formed government to define a mutual vision for economic interaction in the years ahead," the report said.

"The meeting should also prepare the ground for a productive visit to India by Obama, ideally during his expected trip to Asia later this year," said the report 'Enhancing India-US Cooperation in the Global Innovation Economy' which was released at the Capitol Hill by Congressman Howard Berman, Chairman of House Committee on Foreign Affairs.

A joint collaboration of the Pacific Council, an American think-tank, and the Federation of Indian Chamber of Commerce and Industry, the report is co-authored by former US Ambassador to India Richard Celeste and FICCI Secretary General Amit Mitra.

Both governments, either through the High Technology Cooperation Group or a similarly-focused body, should undertake a comprehensive review of the export controls that still inhibit bilateral trade in high-technology goods and services and develop a joint plan for their maximum-possible reduction, the report said.