November 24, 2021
2 mins read

India to activate working groups to benefit India-US trade ties

These working groups would be created for sectors such as agriculture, non-agriculture goods, services, investment, and intellectual property, said a Ministry of Commerce …reports Asian Lite News

The Centre said on Tuesday that it would “activate” working groups to address mutual concerns of India-US bilateral trade.

The decision was taken at the 12th ministerial-level meeting of the ‘India-United States Trade Policy Forum’, chaired by Commerce and Industry Minister Piyush Goyal and USTR Ambassador Katherine Tai.

Accompanied by Deputy US Trade Representative Sarah Bianchi, Tai is on her two-day visit to India that was started yesterday. This is Tai’s first visit to India after she took over office in March this year.

These working groups would be created for sectors such as agriculture, non-agriculture goods, services, investment, and intellectual property, said a Ministry of Commerce statement, adding that these groups will meet “frequently” and chalk out a plan of action by March 2022.

In the period between January and September, India-US bilateral merchandise trade grew 50 per cent compared to the same period previous year, and the same is poised to surpass the $100 billion-mark, the statement said.

The meeting emphasised on “achieving a shared vision of a transparent, rules-based global trading system among market economies and democracies,” the statement added.

In addition, the meeting focused on participation and collaboration of the private sector in both countries in building stronger linkages in critical sectors such as “cyberspace, semiconductors, Artificial Intelligence, 5G, 6G and future generation telecommunications technology, and supporting resilient and secure global supply chains”.

In the agriculture sector, there was an agreement on market access facilitation for mangoes, grapes, pomegranates, pomegranate arils from India, and cherries, alfalfa hay, pork and pork products from the US.

Meanwhile, External Affairs Minister S Jaishankar said that he held a good conversation with Katherine Tai on global trade challenges and the need to build reliable and resilient supply chains.

He also said that expanding economic and technology cooperation is at the heart of the strategic partnership between India and the United States.

“Enjoyed meeting USTR @AmbassadorTai. Good conversation on global trade challenges and the need to build reliable and resilient supply chains. Expanding economic and technology cooperation is at the heart of our strategic partnership,” Jaishankar tweeted.

On Monday, Tai also met Commerce Secretary BVR Subrahmanyam.

The US trade representative also said that trade relations with India are the top priority for President Joe Biden. “The trade relationship between our two countries is a priority, both for President Biden and for me. That’s why it was important for me to come to India and relaunch the Trade Policy Forum (TPF) on my first trip to Asia,” she said. (IANS/ANI)

ALSO READ: India slams cross-border use of drones at UNSC

Previous Story

US to release 50mn barrels of oil to lower prices

Next Story

Sweden’s first female PM steps down hours after appointment

Latest from -Top News

India-US Trade Deal Likely This Week

The interim trade deal would be an initial step towards a comprehensive bilateral free trade agreement between Indian and the US….reports Asian Lite News India is expected to finalise an interim trade

One Year Later, Hasina’s Son Raises Red Flag

Hasina’s abrupt exit last August after violent student protests was widely seen as a blow to democracy in the Muslim-majority nation of 170 million….reports Asian Lite News Sajeeb Wazed, son of former

Global South Finds Its Campus in India

The question is no longer if India can attract global talent, but whether it can build the conditions to do so at scale—with care and vision. Done right, India could emerge as

Jaishankar Gets Real on India-US Ties

The EAM underlined the structural drivers of the bilateral relationship, saying, “The trend line over the last 25 years has actually been very strong….reports Asian Lite News External Affairs Minister S. Jaishankar

Polls Early Next Year, Yunus Tells US

The Chief Advisor invited Rubio to visit Bangladesh ahead of the general election to witness the country’s transition to democracy firsthand…reports Asian Lite News Bangladesh’s interim Chief Advisor Muhammad Yunus has urged
Go toTop

Don't Miss

‘Al Qaeda, Daesh reconstituting in Afghanistan’

But Kurilla’s claim has been rejected by the Taliban government

US Senate foreign panel chair lauds India, asks Quad to help Lanka

The letter was also addressed to US Secretary of State