India-US trade set to top $200 billion

India-US trade set to top $200 billion

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NEW DELHI: With India-US trade set to cross $200 billion in 2023, commerce and industry minister Piyush Goyal and US Trade Representative Katherine Tai on Friday sought to ensure that technical regulations do not impact shipments and vowed to work together on critical minerals, pharma and medical devices.
A joint statement issued after a meeting of the Trade Policy Forum said the two ministers noted that the movement of professionals and skilled workers, students, investors, and business visitors between the countries contributes immensely to enhancing the bilateral economic and technological partnership.
Goyal highlighted challenges being faced by business visitors from India due to visa processing time periods and requested US to augment processing.
Enhanced engagement is likely in several areas. “They (ministers) identified certain areas, including critical minerals, customs and trade facilitation, supply chains, and trade in high-tech products, in which the US and India will develop an ambitious and forward looking roadmap for enhanced cooperation in order to achieve economically meaningful outcomes,” the statement said.
During the meeting, Goyal sought the restoration benefits for India under the US Generalised System of Preferences (GSP) programme. “Ambassador Tai noted that this could be considered, as warranted, in relation to the eligibility criteria determined by the US Congress,” it said.


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