India, U.S. Officials Discuss Trade Issues
Union Minister for Commerce and Industry Piyush Goyal meets the United States Trade Representative team to strengthen India-U.S. trade ties, in New Delhi (Source: PTI)

India, U.S. Officials Discuss Trade Issues


Senior officials from India and the U.S. held detailed discussions Friday on various trade and economic issues to strengthen bilateral relations, an official said.

A team led by Assistant U.S. Trade Representative for South and Central Asia, Christopher Wilson, was here for the meeting with senior officials of the commerce and industry ministry, the official added. The U.S. team also met Commerce and Industry Minister Piyush Goyal.

This was the first deliberation at official level on trade issues after the meeting of Prime Minister Narendra Modi with the U.S. President in Japan, on the sidelines of the G20 summit in Osaka in June.

Talks for a trade package between the two countries slowed after the U.S. rolled back export incentives for India under their generalised system of preference programme with effect from June 5. From June 16, India imposed high customs duties on 28 U.S. products in retaliation to customs duties imposed by America on certain steel and aluminium products.

There are certain irritants which both the countries wants to sort out to push the bilateral trade. The U.S. wants greater market access for its dairy products and cut in customs duties in information and communications technology products. The U.S. companies have also raised concerns over price cap on certain medical devices by India.

Stating that the U.S. has taken a ‘unilateral position’ in rolling back export incentives from India, the government has asserted that it would not allow trade negotiations to overtake issues of national interest.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.