Ministerial-Level Meeting India-US Trade Policy

  • The 14th Ministerial-level meeting of the India- United States Trade Policy Forum (TPF).
  • Held in New Delhi, India.
  • Minister of Commerce and Industry, India, Mr Piyush Goyal and U.S. Trade Representative, Ambassador Katherine Tai co-chaired.

Highlights:

  • To pursue the launch of future Joint Initiatives in areas, including critical minerals, customs and trade facilitation, supply chains, and trade in high-tech products.
  • To establish a Joint Facilitative Mechanism (JFM) to mitigate non-tariff barriers. 
  • To further pursue implementation of High-Level Principles on Digitalization of Trade Documents.
  • To fast-track the ongoing discussions on a Social Security Totalization Agreement.
  • Indian side raised the issue of lifting the ban on exports of wild-caught shrimps.
  • Both welcomed the finalization of the Turtle Excluder Device (TED) design developed with the technical support of the National Oceanic and Atmospheric Administration (NOAA).
  • Under the Resilient Trade Working Group, both sides deliberated further on the issue of India’s designation as a TAA Compliant country.
  • India emphasized the need to increase the number of inspections by the U.S. Food and Drug Administration (U.S. FDA) in India to reach the pre-pandemic level.
  • Both acknowledged the role of professional services in catalysing bilateral trade.
  • Discussed the issue of import management system for specific hardware.
  • Minister reiterated India’s interest in the restoration of its beneficiary status under the U.S. Generalized System of Preferences program.
Posted in Current Affairs.