Piyush Goyal Likely To Hold Talks With U.S. Commerce Secretary July 14
Piyush Goyal in New Delhi, India. (Photographer: Anindito Mukherjee/Bloomberg) 

Piyush Goyal Likely To Hold Talks With U.S. Commerce Secretary July 14

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Commerce and Industry Minister Piyush Goyal is likely to hold a meeting with U.S. Commerce Secretary Wilbur Ross through video conferencing on July 14 to discuss ways to promote bilateral investments and economic ties, a source said.

The U.S.-India CEOs forum is also expected to hold a meeting on July 14, the source added.

Last month, Goyal had stated that he and Ross will be meeting businessmen of both the countries sometime in the middle of July.

In the meetings, the U.S. firms may flag issues related to India's decision to impose 2% equalisation levy on foreign e-commerce entities.

They had earlier also raised issues with regard to India's draft e-commerce policy.

The meeting also assumes significance as both the countries are negotiating a bilateral trade deal to boost two-way commerce.

Also read: India To Levy New Tax On Foreign E-Commerce Companies

The U.S. is among India’s largest trading partner.

In 2018-19, India's exports to the US stood at $52.4 billion, while imports were at $35.5 billion. Trade deficit dipped from $21.3 billion in 2017-18 to $16.9 billion in 2018-19.

India received foreign direct investment of $4.22 billion from the US in 2019-20 as against 3.13 billion in 2018-19.

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