New Delhi, Nov 23rd : .The Centre announced Tuesday that it would “activate” working groups to address mutual concerns in bilateral trade between India and the USA. The 12th ministerial-level meeting, ‘India-United States Trade Policy Forum’ was held.It was presided over by Commerce and Industry Minister PiyushGoyal and USTR Ambassador Katherine Tai.
These working groups will be formed for sectors like agriculture, non-agriculture goods and services, investment, intellectual property, and so on, according to a Ministry of Commerce statement.They will also meet “frequently” to plan a course of action by March 2022.
The statement stated that India-US bilateral merchandise trade grew by 50% in the period January to September compared to the previous year.This is expected to rise to $100 billion.
The statement said that the meeting emphasized “a common vision of a transparent, rules based global trading system among market economies as well as democracies”.
The meeting also focused on the participation and collaboration of both the private and public sectors in building stronger links in critical sectors like “cyberspace,” semiconductors, Artificial Intelligence and 5G, 6G, and future generation telecommunications technologies, as well as supporting resilient and secure global supply chain.
In the agriculture sector, an agreement was reached regarding market access facilitation for mangoes and grapes, pomegranates arils from India, cherries, alfalfahay, pork, and other pork products.
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