US to host trade policy forum with India

Building upon Prime Minister Narendra Modi’s visit to the US, the US is set to host the next round of Trade Policy Forum (TPF) with India, which will firm up steps to upscale the economic relationship and iron out differences over trade-related issues.

“The US-India Trade Policy Forum will allow the United States and India to advance on-going bilateral efforts to expand trade and investment through forward-looking policy initiatives that can benefit our manufacturers, workers, innovators, service providers, farmers, and ranchers,” US Trade Representative (USTR) Michael Froman said in Washington.

The ninth ministerial-level meeting of the US-India Trade Policy Forum, between Mr Froman and India’s Minister for Commerce and Industry Nirmala Sitharaman, will be held onOctober 29 in Washington. The TPF will help evaluate progress made on trade and investment issues at the ministerial-level. It is the premier bilateral forum for discussion and resolution of trade and investment issues between the two countries.

Bilateral trade between India and US is estimated to be around USD 102.8 billion. The two countries have set an ambitious trade target of scaling it up to USD 500 billion over the next few years. India is the 11th largest trade partner of the US, while the US is India’s second largest trade partner after China. The areas of discussion in the TPF include intellectual property, opening investment in manufacturing, agriculture, and services.

During the recent visit of Modi to US in September, he met a number of investors who expressed interest in investing in India. Manufacturing giant Lockheed Martin was one of the major companies that has started manufacturing in India, giving thrust to the Indian government’s ‘Make in India’ initiative.

“This dialogue comes on the heels of President Barack Obama’s recent meeting with Prime Minister Narendra Modi where they discussed how `partnership between the United States and India on trade and investment can contribute to new economic growth and job creation opportunities for our peoples,” said Mr Froman.

Author Profile

India Writes Network: India Writes Network (www.indiawrites.org) is an emerging think tank and a media-publishing company focused on international affairs & the India Story. Centre for Global India Insights is the research arm of India Writes Network. To subscribe to India and the World, write to editor@indiawrites.org. A venture of TGII Media Private Limited, a leading media, publishing and consultancy company, IWN has carved a niche for balanced and exhaustive reporting and analysis of international affairs. Eminent personalities, politicians, diplomats, authors, strategy gurus and news-makers have contributed to India Writes Network, as also “India and the World,” a magazine focused on global affairs.