For trade talks, the US Secretary of Commerce will visit India in March.

World News

Washington: US Commerce Secretary Gina Raimondo will travel to India in March of this year with a powerful delegation of top CEOs from around the world. Piyush Goyal, Union Minister of Commerce and Industry, stated on Wednesday.

Following the completion of the 13th India-US Trade Policy Forum in Washington, he made this declaration.

“I got to spend some time with Gina Raimondo, the US secretary of commerce. The CEO Forum meeting and the subsequent commercial conversation are both scheduled to take place in India on March 9 and 10, respectively “During a press conference in Washington, DC, the Union Minister of Commerce stated.

He continued, “She will be joined by a very powerful delegation of global CEOs of significant international corporations.

In addition, topics relating to resilient supply chains, resolving WTO trade disputes, and sustainable finance in relation to clean technology were discussed during trade discussions between the US and India.

Goyal also disclosed during the press conference the formation of the Economic Policy Forum Working Group on Resilient Trade, which will support the development of long-lasting trade ties between the US and India.

“Our goal is to strengthen and widen the trade ties between the US and India. Consequently, this new Trade Policy Forum Working Group on Robust Trade will allow both parties to expand their conversation on a number of themes that can improve resilient supply chains and also assist us forge sustainable trade partnerships “added he.

Goyal stated there was talk about restarting Indian wild-caught shrimp exports to the US while speaking at the press conference alongside Taranjit Singh Sandhu, the Indian ambassador to the US.

“Due to worries about turtles in the places where wild caught shrimp was being fished in India, this area was prohibited by the US. With the technical assistance of the US NOAA (National Oceanic and Atmospheric Administration), a turtle-excluded gadget has been created, and this design has been approved by both nations as a result of their cooperative efforts “Added he.

According to Goyal, the US market accepts wild-caught shrimp well and there is good potential for trade between the two nations.

According to a previous Union Commerce Ministry announcement, India and the US are natural partners with complementary trade, long-standing strategic and economic links, interpersonal interactions, and both are strong democracies.

Additionally, the two nations are working together through QUAD, IPEF, and I2U2 (India-Israel/UAE/USA) (Indo-Pacific Economic Framework).

Regular leadership exchanges have been a crucial component of the growing bilateral relationship. The results of these trips have played a crucial role in further solidifying the intricate relations between the two nations.

After a four-year hiatus, the 12th TPF Ministerial meeting was convened on November 23, 2021, in New Delhi. Following the most recent ministerial, working groups were reactivated. The Trade Partnership Forum (TPF) is a framework for ongoing dialogue between two nations to advance their trade and investment ties.

Both nations are anticipating the summit and optimistic about solving the trade problems. The Commerce and Industry Minister from India and USTR from the US both serve as the TPF’s chairs.

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