New Delhi: India and the US on Monday vowed to increase their trade bonds and “bring them to the next level” with a closer partnership in the supply chain marked as the main push area.
“On USTR, we often hear from our stakeholders about problems that will be familiar to those of you who are involved in moving goods and services between our two countries: limiting market access, high tariffs, unexpected regulatory requirements, and digital trade measures What is limiting.
This is a problem where we need to make progress and they will be above my list while I am here, “said US Trade Representative Katherine Tai said during its first trip to India to revive the dialogue of the trade policy forum after a four-year-old hiatus.
The trade policy forum, which is a ministerial involvement, is intended to eliminate friction and identify new areas for growth.
Visas, Total Agreement and Market Access for some of its agricultural products is one of the top priority items on India’s wish list, while the US has demanded a lower tariff for its products, by eliminating a more easier data mandate.
While the government also wants to knock American investors for funds in the main sectors, the problems on the table at the ministerial meeting next week are also expected to look for during the meeting between the Minister of Trade and the Piyush and Tai Piyush Industry.
Observing that the world views India as a trusted partner, Goyal said that the superiority of Indian competitive costs, skilled workers and large markets combined with US innovation and investment can be a partnership that won among friends who won.
Goyal said India and the US have realized the need to diversify a critical supply chain.
“I also look forward to discussing how further collaboration about workers-centered policies can benefit our trade relations,” Tai said.